Bitcoin Forum

Joseph Lubin, the author of Consensys is idealistic about grasping the Chinese crypto ecosystem as he is confident that China’s Central Bank Digital Currency (CBDC) will allow the interoperability with open blockchains which would likewise incorporate Ethereum.

In his meeting with Forbes Joseph expressed that he is cheerful to interoperate with it once CBEC opens itself to the open blockchain, however, he likewise utilizes ‘’I don’t know’’ which shows a shortage of conviction in the announcement made

‘’I assume it is going to be exactly what Chinese leadership thinks is most beneficial to the Chinese leadership. Hopefully, that’s also open and we can interoperate with it, but I don’t know.’’


Source: TheCoinRepublic (https://www.thecoinrepublic.com/ethereum-co-founder-is-optimistic-about-interoperation-with-chinas-digital-currency/)

If that's the case Ethereum will be the next big thing aside from its number 2 current position base on market cap. I was a little bit exited about these chinese cryptocurrency CBDC. on how it was function as a cryptocurrency, is it fast, or how it will react to the existing crypto market, is it a kind of a stablecoin, too many question that needs to be answer that's why its worth to watch the development of these chinese cryptocurrency.

I am also hoping that the release of their coin will not be a selfish one and they will work with already existing coins in the market like bitcoin and Ethereum.

The Chinese people have been using these two coins before china decide to introduce their own coin, and when it comes to pairing with other currencies, I know that they will pair it with fiat which is very necessary for those that will find it easy to use fiat to purchase the coin when it is being released and I also know that they might one to pair it with one or two more solid cryptocurrency if which my bet is going to be fore bitcoin and Ethereum, which is one reason why I think next year will be another good year for all these currencies again. Their intention will be clear to us when the coin is eventually released.

yes, we can know that China is the 2nd largest economy in the world and their government's support of Crypto has legally boosted prices so much.
That shows their importance in this financial market and as Ethereum gains new benefits from China, they will become stronger and stronger than ever.

I really like when China speaks out positively about the crypto market and about the cryptocurrency in general, but when it catches up with a negative news background, I really do not like it because, as you said, it very much affects the world economy and everyone obeys its laws and when it issues the bad news is the whole market is going to hell. It would be better for China not to have such power over the global economy, because it would then be much easier for Bitcoin to fly to the moon, otherwise China will only put sticks into the wheels.