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❕NEWS China Debuts Digital Yuan Through Blockchain-based Salary Payments in Xiong’an

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It has been reported the China digital yuan was already in test run stage, the country has made a significant progress from the test run or pilot activities as they are able to make salary payments using digital yuan in Xiong'an. It is reported that subcontractors were able to make payments directly to builders' digital wallets from a public wallet, distributed via a blockchain-based payment platform.
What do you make of this update from giant China!!!
 
since China banned cryptocurrency ,I think they are really improvising different strategies just to make sure the growth of the digital yuan they actually want to create is actually acheived ,i hope the yuan currency continue to get in more growth
 
since China banned cryptocurrency ,I think they are really improvising different strategies just to make sure the growth of the digital yuan they actually want to create is actually acheived ,i hope the yuan currency continue to get in more growth

There are many countries that have created their own digital currencies and they think that investors will invest in such kind of coins as these coins are backed up by the government. i guess the governments use and create these coins in order to compete with other kind of coins like Bitcoin that have a great market capitalisation.
 
There are many countries that have created their own digital currencies and they think that investors will invest in such kind of coins as these coins are backed up by the government. i guess the governments use and create these coins in order to compete with other kind of coins like Bitcoin that have a great market capitalisation.
I think its being over ambitious,"competing with bitcoin?No cryptocurrency can ever compete with bitcoin,not now and not in the future.The gap between the market capitalisations of bitcoin's closest competitor ETH is too big for us to even compare these two,so for China's digital yua to compete with bitcoin it has to first beat ETH's market cap
 
There are many countries that have created their own digital currencies and they think that investors will invest in such kind of coins as these coins are backed up by the government. i guess the governments use and create these coins in order to compete with other kind of coins like Bitcoin that have a great market capitalisation.
that's where the government have failed , because people would not like to invest in a digital currency that is flunctuating backward plenty of times , due to high inflation and others ,that's the thing there ,and the government truly create all thses coins for such purpose based on my observation too
 
I think its being over ambitious,"competing with bitcoin?No cryptocurrency can ever compete with bitcoin,not now and not in the future.The gap between the market capitalisations of bitcoin's closest competitor ETH is too big for us to even compare these two,so for China's digital yua to compete with bitcoin it has to first beat ETH's market cap

I am aware of the fact that no cryptocurrency would ever be able to compete with Bitcoin. However, what I mean is that they are indirectly competing with Bitcoin. Each and every coin is competing with other coin in some sense and this is why I stated that they are in competition with Bitcoin in some way.
 
I think its being over ambitious,"competing with bitcoin?No cryptocurrency can ever compete with bitcoin,not now and not in the future.The gap between the market capitalisations of bitcoin's closest competitor ETH is too big for us to even compare these two,so for China's digital yua to compete with bitcoin it has to first beat ETH's market cap
Bitcoin is already out of the competion from the start , because the market capitalization is greater than some currency market cap , even ethereum been the closest ,still have some huge amount difference of marketcap from Bitcoin which is the leading cryptocurrency
 
The China are surely on track to enable full time payments on the blockchain for their people and it will actually solve a lot of hassle , A lot of people who are old will be able to use the system to get paid and receive their payments without having to visit a formal bank and will save time as well improving the country's finance payments trends as well in the market from.such steps .
 
The China are surely on track to enable full time payments on the blockchain for their people and it will actually solve a lot of hassle , A lot of people who are old will be able to use the system to get paid and receive their payments without having to visit a formal bank and will save time as well improving the country's finance payments trends as well in the market from.such steps .
I love the development China are intiating apart from the fact that they banned cryptocurrency, their creation of digital currency would really help contributing to infulencing and developing the finance state of the company , most especially when it comes carrying out payment and others I think
 
I think it's a good usage of digital currency.. they use it to pay employees and such.. that's good pretty sure it wouldn't lose value just like crypto currency since this is stable. This is the reason why they shut crypto currency out of their country and they control citizens so for sure this will be successful
 
It is not a lie that China is going to be the most developed country because of many development been going on in the country.
Though they were against cryptocurrency before. But now see what they have been able to use the blockchain to there own advantages. I know that there digital currency will open doors for other countries to copy them.
 

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