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[SCAMEXPOSER]

Digital Bolivar is the central bank digital for Venezuela, the coin is set to be launched and be in circulation from first of October this year . The CBDC will bring a monetary redenomination of the nation's currency by removing six zeros from the currency, which will help reinforce the mission to reduce hyperinflation.

 

[Wisdom01]

Well still good they are doing redenomination atleast it would increase the face value and it's an encouragement as people would start storing their investment in the digital currency and still make use of transaction

 

[Razor1911]

Well still good they are doing redenomination atleast it would increase the face value and it's an encouragement as people would start storing their investment in the digital currency and still make use of transaction

Yeah, the stable coins was really needed. That will be the medium for the citizens to convert the coins from fiats to Bitcoin and vice versa.

 

[Wisdom01]

Yeah, the stable coins was really needed. That will be the medium for the citizens to convert the coins from fiats to Bitcoin and vice versa.

Really beneficial too on those trading on exchange platform because it might also be used there and another way to fetch government revenue

 

[Josemendez]

It seems that CBDC is now getting more attention and people are may not like it as it might appear to hinder cryptocurrency progress especially if the Government enforces it

 

[Wisdom01]

It seems that CBDC is now getting more attention and people are may not like it as it might appear to hinder cryptocurrency progress especially if the Government enforces it

True CBDC is truly getting more attention ,I think the government are really making sure the promotion reach a wide range , do that there would be more adoption and the benefits they will gain is motivation for them

 

[BullyMaguire]

I just hope that goverments doesn't ban Cryptocurrency just because they have their own and let people decide and have all the options for our own benefits

 

[gammarays]

Venezuela needs to look digital and redenominate their currency to save them from inflation. Zimbabwe has done it and it's working for them. They can invest in crypto to boost their foreign reserve.

 

[ElPaule]

Digital Bolivar is the central bank digital for Venezuela, the coin is set to be launched and be in circulation from first of October this year . The CBDC will bring a monetary redenomination of the nation's currency by removing six zeros from the currency, which will help reinforce the mission to reduce hyperinflation.

this will be an extreme edge case where we can study how CBDC will deal with hyperinflation and worldwide isolation and sanctions by many western countries. I am looking forward to see what will be the outcome of this wild test.

 

[Niftyicon]

I think the redenomination plan is an excellent one and Venezuela would likely have a positive feedback from this because of its economy.

 

[SCAMEXPOSER]

It seems that CBDC is now getting more attention and people are may not like it as it might appear to hinder cryptocurrency progress especially if the Government enforces it

Personally I don't think it will hinder cryptocurrencies growth rather it may makes cryptocurrencies to fiat transactions much more easier as it is digital.

 

[Josemendez]

Personally I don't think it will hinder cryptocurrencies growth rather it may makes cryptocurrencies to fiat transactions much more easier as it is digital.

Don't forget that CBDC was built in such a way tackle the cryptocurrency and some government may force cryptocurrency to be stopped just as it is with China

 

[Corzhens]

Based on this board there are several countries that are creating their own digital currency like the digital Yuan of China. Most likely fans of crypto currency will react by associating the digital currency to crypto currency. They are 2 different animals though and comparison is not appropriate.

 

[Josemendez]

Based on this board there are several countries that are creating their own digital currency like the digital Yuan of China. Most likely fans of crypto currency will react by associating the digital currency to crypto currency. They are 2 different animals though and comparison is not appropriate.

No one compared them , we are only concerned on what will be the fate of cryptocurrency in countries with CBDC. The government may want to restrict it's usage .

 

[LutherKing]

The country actually is quite poor I had an chat with a person who said that opportunities are pretty limited there and only best can avail a position , he even said he can eat 2 times and does all work day online , it was heartbreaking chat for me .

 

[Josemendez]

The country actually is quite poor I had an chat with a person who said that opportunities are pretty limited there and only best can avail a position , he even said he can eat 2 times and does all work day online , it was heartbreaking chat for me .

Every country faces one problem or the other and this is the main reason why people are looking for different ways to build their finance.