China to have their own digital currency based on blockchain technology

[yesuidanggan]

I don't like the Chinese government's digital encryption currency!

I think this digital cryptographic currency is difficult to circulate internationally, probably only in China.

So what is the special significance of this digital cryptographic currency?

[nc50lc]

I recently took part in an airdrop and posted a facebook AD about digital money!

As a result, my facebook account has been disabled! I submitted my information and hope to log in again!

What are you saying? That was definitely not the topic.
Please refrain from replying to international boards if you can't understand the discussion.

[BlackWidow]

China is trying to make one of the alternative financial and banking systems. If they get it or not, we'll see. So far this is just a statement.         

[sjbi]

I think China will not go away from the innovative blockchain technology, and cryptocurrency. What China is trying to do is stop flowing its money away into other countries by banning crypto trading. China is trying to bring in money by introducing its own altcoin. After all, no country or government like china can be abstained from such new and good technology. 

[hastag_80]

Source: chinese text https://www.reddit.com/r/CryptoCurrency/comments/835vc2/china_will_have_its_own_digital_currency_based_on/

What do you think? I think more real world block chain application is always a good thing, we'll see how the currency turns out though.

Actually this is the first things ive heard thats in my news feeds or other news site about cryptocurries that the government  of china probihiting to operate all foreign ICO into there country because they want to make or develope there own coins  for the used of there fellow chinese countrymen ,thats the reason why also the bitcoin price now is consecutive  dropping and while  maintaining  sometimes its stability to the blockchain market.

[InfiniteGrim]

Quite probably China just wants to switch the free market crypto-exchange under its control. I don't think that's right.      

[HardFireMiner]

I don't see how a centralized coin released by a government can change anything. In fact, why do they need a blockchain?

[SeXy]

I think it's necessary to buy, the Chinese often changed the situation on the crypto-currency market very much, and their own crypt will cost a lot

[nazaididuan1]

I think very few of China will buy government issued digital encryption currency!

Because they're issuing digital encryption money to control investors' money!

[Alex6562]

I'm not sure that the centralized crypto currency is a minus. There are also pluses, for example, a price that will be well controlled and it will not fall below the intended level.

[adzino]

Good for them. At least they will leave bitcoin and other crypto currencies alone. I don't know how popular their "centralized" digital currency is going to be but i am sure they will be able to fool their people easily. On the bright side, at least people will get to know more about blockchain technology!

[Spaffin]

We already know the Chinese bank is developing its own digital currency. And we all know it should be quite different from cryptocurrency which we like, they're just replacing paper money with digital currency, which is still centralized.

Of course, all national crypto-alyuts will be centralized, states can not issue decentralized digital coins. However, I recently read in the news that China is not in a hurry to create its own digital coin. While we do not see how effective or useless national centralized digital coin. Only Venezuelan Petro appeared, but there immediately appeared problems with the legislature, which recognized this coin as illegal. However, we need experience in the operation of such centralized coins. If they fail, this may indicate that the most effective crypto currency can only be decentralized.

[etin06]

Although all there is nothing bad in countries having their own cryptocurrency based on Blockchain technology,  China always like having things solemnly created by them. They have their own social media like wechat and their browser Baidu  which they approved  after banning  the popular facebook, twitter and telegram.

[wantjokull]

Source: chinese text https://www.reddit.com/r/CryptoCurrency/comments/835vc2/china_will_have_its_own_digital_currency_based_on/

What do you think? I think more real world block chain application is always a good thing, we'll see how the currency turns out though.

First of all we should really understand that we are talking about the china here the only country which has shaken the world of crypto currency more than many times and that is also with its banning melodrama. Do you guys really think that they are planning on doing something their own in the world of crypto currency. Why would they even go for it if they dont like it. First we need to know whether this news is really true or not. If they are making it on the blockchain and if it is centralised one then I dont think it will contribute to the bitcoin or any other crypto projects that we have today. So whether it comes to existence or not it doesn't matter unless it has purpose to contribute to the blockchain or bitcoin.

[rudolfaxl]

I'm not sure that the centralized crypto currency is a minus. There are also pluses, for example, a price that will be well controlled and it will not fall below the intended level.

I don't see any advantages. How does the national crypto currency differ from the fiat currency in digital form? The government will control the national crypto currency and this kills decentralization and anonymity. This contradicts the principles of the crypto currency.

[oni4an]

In the beginning everything is to deny and then want to issue their national crypto, just realized that made a mistake and are now trying to get a hold of your cake)

[Nagricoin]

I'm not sure)
This is good or not?

[labake]

Government having direct influence on crypto is not a good idea. Cryptocurrency should not have the control of single body, instead, it should be decentralized.

[om_iyo]

It's a typical of China. We know that China restricts for some digital product, such as Facebook, Blackberry Messenger, Whattsapp, YM, etc. In other side, they have own to substitute, such as QQ mesenger, WeChat, etc. In a fact, they use their product and develop it. And for new Chinese digital currency; even it seem as centralized, it will used by them. How much? It depends for demand. It will grow in China only.

[worldooftanks]

This is something interesting, these Chinese are good fellows of course,they all forbid that I come up with their own technologies on the cryptocurrency, they are great manipulators of the cryptocurrency market.