Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[NoLimits15]

China will soon launch their very own DCEP digital currency as tests are being carried out in Shenzhen province. DCEP will fully replace traditional cash and there is also a DCEP app that will act as a digital wallet where you can connect it to your bank account. The token will use a form of blockchain called "Distributive Ledger Technology" and it's not fully decentralized which means the authorities will have some control over it.

 

[SCAMEXPOSER]

This is good move , I guess the DCEP will have the current value of Chinese currency so it is gonna be a digital stable coin. I hope it won't crash like their blockchain project.

 

[Josemendez]

China will soon launch their very own DCEP digital currency as tests are being carried out in Shenzhen province. DCEP will fully replace traditional cash and there is also a DCEP app that will act as a digital wallet where you can connect it to your bank account. The token will use a form of blockchain called "Distributive Ledger Technology" and it's not fully decentralized which means the authorities will have some control over it.

That's good for Chinese , but I hope this digital currency won't have the fluctuations associated with fiat currency , if it does , Chinese may not be able to welcome it , as some of them won't be patient when the currency drops low .

 

[Balint098]

The token will use a form of blockchain called "Distributive Ledger Technology" and it's not fully decentralized which means the authorities will have some control over it.

As expected of China who wants to monitor their citizens' every step. Crypto starting to lose its true essence in China I guess. Shame.

 

[Josemendez]

As expected of China who wants to monitor their citizens' every step. Crypto starting to lose its true essence in China I guess. Shame.

I know very well that if China is to have any digital currency , it won't be decentralized nor a cryptocurrency that they can control. The quest for power and control is seen in all their actions .

 

[SCAMEXPOSER]

They don't have control over Crypto currencies now, the only thing may plan to do is that if their blockchain project is successful they may create their own Crypto currencies for their own people alone.

 

[Wisdom01]

Its a good for China but since the government still have control over it and its not decentralized I don't think some people will want to use it ,well it would be good mostly for the pandemic so there can be digital transaction

 

[onlyprofits]

China will soon launch their very own DCEP digital currency as tests are being carried out in Shenzhen province. DCEP will fully replace traditional cash and there is also a DCEP app that will act as a digital wallet where you can connect it to your bank account. The token will use a form of blockchain called "Distributive Ledger Technology" and it's not fully decentralized which means the authorities will have some control over it.

If it is not decentralized it does not serve the general purposes of cryptocurrencies, perhaps it will pass as the Yuan, which is a totally manipulated currency, perhaps it is only used by the government for its international transactions. This seems a copy of what happened with the Petro in Venezuela

 

[SCAMEXPOSER]

This coin can't have value above yuan if the digital is launched by the government or with government approval, it is just going to be a digital version of yuan paper currency. No element of Crypto currencies.

 

[ascott]

I think this step will motivate other countries too and there will be more countries which tend to make new digital currenncyies also...

 

[SCAMEXPOSER]

I think this step will motivate other countries too and there will be more countries which tend to make new digital currenncyies also...

This has no effect as such in my opinion because it is a simple project any country can launch since they will be in charge and encourage cashless transaction.

 

[ELSA-ELI]

I think this step will motivate other countries too and there will be more countries which tend to make new digital currenncyies also...

That is my line of thought aswel,there is a call for digital currencies as it is convenient and somehow safer to carry as compared to actual physical notes.Just the lacuna of not validating crypto as being valuable by some circles of society. But if the war or debate can come to a resolve.Then most countries will follow suit to have crypto currencies as their main neans of trade.

 

[Wisdom01]

I think this step will motivate other countries too and there will be more countries which tend to make new digital currenncyies also...

Some other countries have their digital currencies, this won't necessarily motivate them since they have separate reasons of creating their own digital currency

 

[Reznov]

DCEP will fully replace traditional cash and

can we just say that we are in the future that a lot of movies talked about ? i'm sure flying cars and stuff will be a real thing, replacing the traditional cash by something that can't be touched is surely a huge step into improvement

 

[Wisdom01]

If it is not decentralized it does not serve the general purposes of cryptocurrencies, perhaps it will pass as the Yuan, which is a totally manipulated currency, perhaps it is only used by the government for its international transactions. This seems a copy of what happened with the Petro in Venezuela

Alright does Venezuela have their own digital form of currency? ,well it will be used not only by the government and also by citizens mostly during this pandemic times

 

[onlyprofits]

Alright does Venezuela have their own digital form of currency? ,well it will be used not only by the government and also by citizens mostly during this pandemic times

Venezuela, according to the government created a cryptocurrency called Petro. Supposedly its value was going to be guaranteed by the country's oil reserves and anchored at the price of a barrel of oil, none of this was fulfilled, the government gives it the value according to its own interests. They launched the ICO and it was a failure, all because the Venezuelan government does not have a good reputation, neither political nor economic, internationally. The Petro is currently considered a cryptoactive that the only one that gives value to it is the government of Venezuela and with which it indebts and pays its citizens internally under certain conditions.
Now I say, who is going to want to invest in an ICO or buy a cryptocurrency launched by the Chinese government, being they great manipulators of its currency, in addition to being a communist government

 

[Balint098]

Hopefully we can see the day, which crypto become widespread enough for people to use if for daily transactions. Though we have to tackle the problems with climate change first before that happen.

 

[Brain]

China will soon launch their very own DCEP digital currency as tests are being carried out in Shenzhen province. DCEP will fully replace traditional cash and there is also a DCEP app that will act as a digital wallet where you can connect it to your bank account. The token will use a form of blockchain called "Distributive Ledger Technology" and it's not fully decentralized which means the authorities will have some control over it.

Good one for China with having their own digital currency. I like the fact that it is not fully decentralized like btc at least there will be a little form of control over it usage.

 

[bitforex22]

And what if you have to put tons of details to use this currency , then the use will become very limited and fewer people would like to use it in my opinion , positives and drawbacks both can be there at same time

 

[Wisdom01]

And what if you have to put tons of details to use this currency , then the use will become very limited and fewer people would like to use it in my opinion , positives and drawbacks both can be there at same time

Yeah too much burden and control over it ,few people would use the coin that's just it and it would really cause a decline in useage