Cryptocurrency of China!

[sohaib 273]

Hello Friends, 

 I have read and watched in the news several times in the last few days that. Media and People are saying that; China is about to launch its own cryptocurrency but, as i study china's cryptocurrency in depth so i realized that this is not a cryptocurrency. it is just a digital form of fiat currency which is called Digital Currency. Please, I would love to know your prospects on this. What do you say? is it a cryptocurrency or just a digital form of fiat currency? 

[Afrizal rahman 2636]

Yes at this time China will launch their own Crypto currency. But this currency is only for their own country and to regulate their economy. So the currency they launched is not for international purposes, but only for the needs of the country.

[sohaib 273]

13 minutes ago, Afrizal rahman said:

Yes at this time China will launch their own Crypto currency. But this currency is only for their own country and to regulate their economy. So the currency they launched is not for international purposes, but only for the needs of the country.

I know that is only for their country. But, that is not my question. my question is; Is it a Cryptocurrency or a digital currency? 

Edited January 5, 2020 by sohaib

[Afrizal rahman 2636]

2 minutes ago, sohaib said:

I know that is only for their country. But, that is not my question. my question is; Is it a Cryptocurrency or a digital currency? 

That possibility is the digital currency that they will create. Because until now I do not know because they are still in the process stage. Sorry for my answer if wrong.

[kamalnewaz 150]

Not all,but many of chinese people involved in cryptocurrency.They think it is a source of extra income to set up themsalves as a employer.This trading system is increasing day after day.           

[Rahul21 626]

Yes, I also know that China has actually created their own currency which can be used in currency.  So if this currency can get a place in cryptocurrency, then China will have a lot of money to earn through their currency transactions in China.

[Suhannewaz 245]

The Chinese People's Bank is announcing the launching in the process of its own' cryptocurrency,' replacing the physical Chinese yuan in circulation, the central bank which manages China's monetary policy.

[Wijayafajar06 274]

Yes, China will launch a digital currency in the form of digital Yuan and its currency is only for the country, it is not the same as the Crypto currency which can be used throughout the world, although not yet officially in all countries. China will follow in the footsteps of crypto in its currency.

[johant123 1559]

5 hours ago, sohaib said:

I know that is only for their country. But, that is not my question. my question is; Is it a Cryptocurrency or a digital currency? 

It will use blockchain technology, and digital wallets based on asymmetric encryption. So it will be a crypto currency. However, far more centralized than the common crypto currencies today.

[Soaib khan 1035]

yes china launching own crypto currency  china good country for digital currencies and maybe in future crypto currencies become legal in worldwide

[Migo 7946]

Yes you are right, I saw it too, I think not just China but every country is trying to launch its own currency, I think in this way they want bitcoin to disappear and reduce his power 

[pulokdeb 61]

China seems to be launching their own currency, I think they will never want this currency going anywhere in the world they are just making money for their own country and they will use it in crypto.

[Rudro88 371]

China's own currency will be a very good step for China economically, and will make it a right place in cryptocurrency, because now through the medium of Chinese currency transactions, everyone will know that it is a Chinese currency and can be very familiar with it.  China will go ahead with its currency.

[Win 1015]

Well wil see china is the strongest economy country today and seems crypto world is one of there target.they wilk realease there own crypto currency but a lot of news saying it is only available in there country

1 hour ago, Suhannewaz said:

The Chinese People's Bank is announcing the launching in the process of its own' cryptocurrency,' replacing the physical Chinese yuan in circulation, the central bank which manages China's monetary policy.

Really wow but i hope it will also available around the globe it seems we can also benifit from it specially when if that will have a bonus or bounty for sign up as well as mining of there currency😅

[BTC Future 3946]

China will just create a digital version of their yuan. It will be centralized and under total control of their Central Bank. It will be used widely in China and their government will be able to spy and track every transaction of their citizens. Chine does not want financial freedom and don't want bitcoin so they created their own version in order to control their population.

[Interface User 1070]

I read some news that the China block some sites who runned Ethereum, is this true? Because that's totally sad because the Ethereum investors and trades is in danger. In the case of this new Crypto Currency of China I hope they will implemented it well because many investors may hurt their feelings if this project failed.

[doriahailee 643]

Looks like it's digital form of china fiat currency or digital Yuan from what i read before, They making their own blockchain to become basis for the digital fiat so i don't think it's just another crypto like others beside that some rules about crypto on that country lately was really strict.

[Thekingcallme 1975]

Your words are true. If China were to launch a cryptocurrency, it would not be able to control it, which is why I don’t think it would launch a cryptocurrency, but a digital currency that represents the paper yen.

[pakjobhelp 1585]

Yes i agree with you that china launched the own currency in digital form. You know that the crypto currency is decentralized currency in this way the only one country cannot launched the crypto currency. For this purpose different countries work on same platform.

[patitaycute 648]

If it will happen then it was easy for China to make it successful since China has a massive population to support their cryptocurrency and have a modernized technology to support blockchain tech.

[iloveyobit 6599]

Personally, I did not come across this news, but if it is true and the currency is decentralized then this is great because many people will hear about the field and also we will see the entry of huge liquidity into digital currencies.

[Amir Vao 341]

10 hours ago, sohaib said:

Hello Friends, 

 I have read and watched in the news several times in the last few days that. Media and People are saying that; China is about to launch its own cryptocurrency but, as i study china's cryptocurrency in depth so i realized that this is not a cryptocurrency. it is just a digital form of fiat currency which is called Digital Currency. Please, I would love to know your prospects on this. What do you say? is it a cryptocurrency or just a digital form of fiat currency? 

I think digital currency is crypto currency. But as you said it means fiat currency. I am now confuse.

[sohaib 273]

17 hours ago, johant123 said:

It will use blockchain technology, and digital wallets based on asymmetric encryption. So it will be a crypto currency. However, far more centralized than the common crypto currencies today.

This makes some sense. btw, time will tell what is coming out. the whole world is looking at this launch and then all will start following. 

12 hours ago, Amir Vao said:

I think digital currency is crypto currency. But as you said it means fiat currency. I am now confuse.

No need to be confused my friend. Cryptocurrency is the Original Digital currency. But when you give Fiat currency a digital formation then somehow it is also called digital currency but totally different than Cryptocurrency.  

[Amir Vao 341]

1 hour ago, sohaib said:

This makes some sense. btw, time will tell what is coming out. the whole world is looking at this launch and then all will start following. 

No need to be confused my friend. Cryptocurrency is the Original Digital currency. But when you give Fiat currency a digital formation then somehow it is also called digital currency but totally different than Cryptocurrency.  

Is it separate technology from blockchain? 

[sohaib 273]

2 hours ago, Amir Vao said:

Is it separate technology from blockchain? 

It is not a separate technology but it is a little different than a traditional cryptocurrency.