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[AudraMiller]

There are many countries that are now looking into the creation of their own digital version of their fiat currency and this can be seen in countries like india and china. It is likely that these developments were brought about by how prominent cryptocurrency as become. In a recent news article, it seems that the digital yuan may be able to be used in cross-border trades. The first test for this application has been successful, showing that its use is not that far off.

 

[LutherKing]

people will become less interested in centralized cryptocoins though it can be used but caution will be there , because you are not as free in using actual cryptocurrency , so i doubt this idea will be able to compete and beat cryptocurrencies in the real sense and vision

 

[Josemendez]

There are many countries that are now looking into the creation of their own digital version of their fiat currency and this can be seen in countries like india and china. It is likely that these developments were brought about by how prominent cryptocurrency as become. In a recent news article, it seems that the digital yuan may be able to be used in cross-border trades. The first test for this application has been successful, showing that its use is not that far off.

The digital Yuan may be very enticing but it is not for me , I don't see my self buying such coin because China is trying to rule the world

 

[LutherKing]

Well my experience is same about crypto first time bought ltc and in 3 days its 45% down , hell never buying crypto again , its truely fraud and manipulation to be honest

 

[Niftyicon]

The value of Yuan wouldn't change because it has become digitalized, so I don't see any reason for holding it unless you have transactions to make with it.

 

[AudraMiller]

Well my experience is same about crypto first time bought ltc and in 3 days its 45% down , hell never buying crypto again , its truely fraud and manipulation to be honest

There's quite a bit of manipulation when it comes to cryptocurrency prices especially because it is a decentralized network. However if you consider the coin that you invest in and hold it for a long period of time you should be able to see profits. It is very risky however.

 

[BullyMaguire]

The digital Yuan may be very enticing but it is not for me , I don't see my self buying such coin because China is trying to rule the world

Same here bro. I will never use such coins made from hypocrisy and with an intent to take over something beyond their borders.. china is obsessed with power

 

[Josemendez]

The news of the digital yuan has flooded the internet for some time now. It seems the country is just too innovative and sensational to the moves of trends in terms of digitalization.

Well , when it comes to technological advancement , China is not far from the best. But let's see how digital Yuan will work for them.

 

[Corzhens]

If the digital currency of countries can be used across the border then the money changers in the border will upgrade their system. When we travel we always exchange US dollar to the local currency in cash. Maybe next time we would be bringing along the digital US dollar (if ever).

 

[AudraMiller]

Same here bro. I will never use such coins made from hypocrisy and with an intent to take over something beyond their borders.. china is obsessed with power

It does sound like it is hypocritical to a large extent because it is operating on a pretty similar platform and networks that we see cryptocurrencies using so I don't actually see the difference between accepting and legalizing cryptocurrency and creating your own digital currency.

 

[Wisdom01]

I think it's definitely going to be used between crossborders , because for now China have been using every means to promote the digital yuan an make sure is adopted

 

[BullyMaguire]

It does sound like it is hypocritical to a large extent because it is operating on a pretty similar platform and networks that we see cryptocurrencies using so I don't actually see the difference between accepting and legalizing cryptocurrency and creating your own digital currency.

Yeah they eliminated Cryptocurrency and even closed businesses and jailed people that connects with Cryptocurrency and now they will make their digital yuan be adopted outside china too.. isn't that funny

 

[ElPaule]

There are many countries that are now looking into the creation of their own digital version of their fiat currency and this can be seen in countries like india and china. It is likely that these developments were brought about by how prominent cryptocurrency as become. In a recent news article, it seems that the digital yuan may be able to be used in cross-border trades. The first test for this application has been successful, showing that its use is not that far off.

Yes but international traders needs to be registered with the Chinese national bank to do so. And potentially install Chinese national bank software todo so. This will limit the potential of cross border trades. Big question how China is open to trades between eg the US and China in eUSD or the EU and China in eEUR. There is the concern that Chinese government will force Chinese entities to process payment preferable in eCNY.

 

[a_jerobon]

That is great. China have become so successful in creating their own digital currency. It is a great development that it can now be used across borders. It shows people are actually adopting it.

 

[Razor1911]

That is great. China have become so successful in creating their own digital currency. It is a great development that it can now be used across borders. It shows people are actually adopting it.

that will be controversial because not many country will accept Yuan as digital currency. I guess only Taiwan in Hong Kong will be the to accept that.

 

[AudraMiller]

that will be controversial because not many country will accept Yuan as digital currency. I guess only Taiwan in Hong Kong will be the to accept that.

I think that the only time that other countries will be able to accept this digital currency is when they themselves have developed their own digital version of the Fiat currency within that country because it will pretty much then be the same as a business transaction between the Fiat currencies.