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[AudraMiller]

One of the major developments that have happened on the Chinese financial system is the fact that they have introduced a digital version of the Fiat currency which essentially operates as a cryptocurrency they can be used within the country. This has proven to be quite successful in its early stages and therefore it is being implemented in other regions of China as well. Do you think that this will cause a chain-reaction globally in which most countries will start to implement a digital version of the Fiat currency? Charlie Munger says that he wishes to see these financial systems in the USA in the future.

 

[LutherKing]

Well its like mixing sand and water actually and then asking them to be separated which is quite tough unless heated at highest temoartutes they remain attached so its that much complex sort of problem to solve actually

 

[ElPaule]

One of the major developments that have happened on the Chinese financial system is the fact that they have introduced a digital version of the Fiat currency which essentially operates as a cryptocurrency they can be used within the country. This has proven to be quite successful in its early stages and therefore it is being implemented in other regions of China as well. Do you think that this will cause a chain-reaction globally in which most countries will start to implement a digital version of the Fiat currency? Charlie Munger says that he wishes to see these financial systems in the USA in the future.

I do not think that China will start something new, guess they will accelerate things that already are in the pipeline. Most e-currencies will differenciate from the Chinese, maybe by more privacy features or interchangeability to other e-currencies.

I am sure that other nations are evaluating the Chinese PoC or even working with Chinese Fed officials together to share knowledge but I would not concider this as a chain reaction.

 

[Eladio Deodato de Barros]

Um dos principais desenvolvimentos que aconteceram no sistema financeiro chinês é o fato de que eles introduziram uma versão digital da moeda Fiat que funciona essencialmente como uma criptomoeda e pode ser usada dentro do país. Isso provou ser um grande sucesso em seus estágios iniciais e, portanto, está sendo implementado também em outras regiões da China. Você acha que isso causará uma reação em cadeia global na qual a maioria dos países começará a implementar uma versão digital da moeda Fiat? Charlie Munger diz que deseja ver esses sistemas financeiros nos EUA no futuro.

A maior parte das instituições financeiras da China é estatal, e 98% das ações bancárias também são estatais. ... As remessas de capital para chineses não exteriores são gerenciadas pelo Banco da China.

 

[vinnyzin]

Um dos principais desenvolvimentos que aconteceram no sistema financeiro chinês é o fato de que eles introduziram uma versão digital da moeda Fiat que funciona essencialmente como uma criptomoeda e pode ser usada dentro do país. Isso provou ser um grande sucesso em seus estágios iniciais e, portanto, está sendo implementado também em outras regiões da China. Você acha que isso causará uma reação em cadeia global na qual a maioria dos países começará a implementar uma versão digital da moeda Fiat? Charlie Munger diz que deseja ver esses sistemas financeiros nos EUA no futuro.

A invenção do dinheiro em papel tem uma relação mais ou menos óbvia com o dinheiro digital. Até a invenção do papel na dinastia Song (960-1279), havia uma relação
entre o valor da moeda e o material no qual ela era cunhada (bronze, prata ou ouro)

 

[vinnyzin]

One of the major developments that have happened on the Chinese financial system is the fact that they have introduced a digital version of the Fiat currency which essentially operates as a cryptocurrency they can be used within the country. This has proven to be quite successful in its early stages and therefore it is being implemented in other regions of China as well. Do you think that this will cause a chain-reaction globally in which most countries will start to implement a digital version of the Fiat currency? Charlie Munger says that he wishes to see these financial systems in the USA in the future.

Em termos práticos, o yuan digital é um aplicativo do Banco Central chinês. Na fase experimental, 100 mil chineses foram convidados a experimentar a nova moeda, que vai conviver com notas e moedas que já estão em circulação.

 

[vinnyzin]

One of the major developments that have happened on the Chinese financial system is the fact that they have introduced a digital version of the Fiat currency which essentially operates as a cryptocurrency they can be used within the country. This has proven to be quite successful in its early stages and therefore it is being implemented in other regions of China as well. Do you think that this will cause a chain-reaction globally in which most countries will start to implement a digital version of the Fiat currency? Charlie Munger says that he wishes to see these financial systems in the USA in the future.

O Banco Central da China distribuiu a moeda digital para 6 grandes bancos comerciais, todos estatais, que enviarão o recurso digital para bancos menores e controladores de aplicativos como o WeChat (uma ferramenta chinesa que mistura WhatsApp com carteira digital de pagamentos).

 

[Bolivia084]

One of the major developments that have happened on the Chinese financial system is the fact that they have introduced a digital version of the Fiat currency which essentially operates as a cryptocurrency they can be used within the country. This has proven to be quite successful in its early stages and therefore it is being implemented in other regions of China as well. Do you think that this will cause a chain-reaction globally in which most countries will start to implement a digital version of the Fiat currency? Charlie Munger says that he wishes to see these financial systems in the USA in the future.

 

[Bolivia084]

Well its like mixing sand and water actually and then asking them to be separated which is quite tough unless heated at highest temoartutes they remain attached so its that much complex sort of problem to solve actually

I believe this move by China will cause a chain reaction among the top economic powers

 

[Bolivia084]

I believe this move by China will cause a chain reaction among the top economic powers

 

[CrazySher]

One of the major developments that have happened on the Chinese financial system is the fact that they have introduced a digital version of the Fiat currency which essentially operates as a cryptocurrency they can be used within the country. This has proven to be quite successful in its early stages and therefore it is being implemented in other regions of China as well. Do you think that this will cause a chain-reaction globally in which most countries will start to implement a digital version of the Fiat currency? Charlie Munger says that he wishes to see these financial systems in the USA in the future.

I think yes if it will succes, then most of the big and rival countries of China will be join the race to make their own fiats digital currency.

 

[AudraMiller]

I think yes if it will succeed, then most of the big and rival countries of China will be joining the race to make their own fiats digital currency.

If this has to be the case then I hope that the other countries will be able to list their Fiat currency on an exchange platform which will allow people to do Fiat currency in forex trading in a very easy and simplified manner

 

[BullyMaguire]

Hmm it's just a matter of time before other countries do the same if they succeed. I know and i already thought about it before. That if they can't control something they will make something they can

 

[ElPaule]

Sim, realmente você tem toda a razao, achei incrível seu modo incrível de pensar. Gostaria de mais informações interessantes como essa. Parabéns pelo texto

If you could at least do kind to speak English, there are many nations and languages in this forum and not everyone understand this glibberish. It Would be helping the forum very much.

 

[AudraMiller]

Hmm it's just a matter of time before other countries do the same if they succeed. I know and i already thought about it before. That if they can't control something they will make something they can

Yeah this does make sense and it could be a way for the government to try and move people away from crypto, however these digital fiat currency will not have any investment value.

 

[Emmanuel24]

It's possible other countries emulate this development as far as it's quite successful. I really love their innovation. I believe this is also a good part of crpto which is a good news on the part of crpto.

 

[AudraMiller]

It's possible other countries emulate this development as far as it's quite successful. I really love their innovation. I believe this is also a good part of crpto which is a good news on the part of crpto.

It is a good development however it has resulted in crypto being taken out of China. This is quite concerning for the cryptocurrency world. Furthermore, countries like Vietnam have already started to look into a digital currency.

 

[Hashay]

Majority are blaming the persistent drop in crypto currency to the Chinese and that is kind of true if we look at it, China has the most rigs and has now banned crypto

 

[AudraMiller]

Majority are blaming the persistent drop in crypto currency to the Chinese and that is kind of true if we look at it, China has the most rigs and has now banned crypto

This is true. However i think that whilst this was the major deciding factor i also believe that external factors like the economic crisis caused by the pandemic could have contributed largely to it as well.

 

[Hashay]

This is true. However i think that whilst this was the major deciding factor i also believe that external factors like the economic crisis caused by the pandemic could have contributed largely to it as well.

Of course, there are different factors that affect the crypto market and one might not pin point exactly what caused the fall.