❕NEWS - China starts its digital payment scheme | BeerMoneyForum.com

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AudraMiller

Sapphire Member

Jun 15, 2021

There is much talk when it comes to China and the digital yuan currency that they want to release and how it will work. This currency is based on the blockchain network and is essentially the cryptocurrency version of their regular fiat currency. In a recent news article, it seems that the country has started paying people's salaries in this digital currency, starting with Xiong'an.

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Niftyicon

Sapphire Member

Jun 16, 2021

I saw this news also and I think that as China already finalized its decisions about the digital Yuan, what better way to launch its use than paying salaries of it's workers in it.

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AudraMiller

Sapphire Member

Jun 16, 2021

Niftyicon said:
I saw this news also and I think that as China already finalized its decisions about the digital Yuan, what better way to launch its use than paying salaries of it's workers in it.

Paying salaries will be a very good way to introduce people to it, provided that all of the retailers have the facilities to accept it otherwise it would limit its use quite significantly.

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Wisdom01

Diamond Member

Jun 16, 2021

Well I think they are looking for ways to probably force the use of the currency on people ,but if the level of acceptance is not still as high as normal crypto currency then the effort might reach the potential as they want