Coming Soon: China's Own Cryptocurrency

[Pamadar]

China is always on the news nowadays and has become a trending topic. This will be very good because of the positive news about blockchain technology that is embraced and wanted to be developed by China to advance their country. this will have an impact on the price of bitcoin and altcoin. If China already believes in Blockchain technology, various innovations will be developed by China and integrated with blockchain technology. it will be amazing.

The impact will make a domino effects in each nations around the world, after China's position about to the adoptions of blockchain technology it will
also bring interest to other countries which means that popularity of crypto will extend more. It will bring up ideas especially to those who are opposing
same a like with China before to consider blockchain technology.

Expecting China's own version of cryptocurrency to exist if they are really serious to maximize the full use of blockchain system.

[Wysi]

China is very intelligent in the role of the world economy, let alone the Chinese government has already announced to legalize cryptocurrency at 2020 in early January, I think that every decision making already has a strategy in the crypto world that can make Economic advantages for the Chinese state.

Yes they are very genius in making policies to compete with the United States in the world economic competition. By adopting Blockchain technology and launching its own Crypto, So I think it will weaken the growth of the US Dollar, we look forward to how their Crypto will be launched at the beginning of the year.

This is very much possible as they will never allow bitcoin or US dollars to dominate the market so they might come up with their own crypto backed by their national product and this will have impact on both bitcoin as well as US dollar but they might come up with their own centralized crypto rather than decentralized coin. I think we need to wait for some more time to see further development about this idea.

[antsam]

China is a smart country, knowing the great potential of crypto that will not be unstoppable. They saw the crypto opportunity as one of the ways they controlled the world of commerce after they revived the modern silk route

[nelson4lov]

China is a smart country, knowing the great potential of crypto that will not be unstoppable. They saw the crypto opportunity as one of the ways they controlled the world of commerce after they revived the modern silk route

I'm not surprised. China is one of the leading countries in terms of technological innovation. China is a top country today because it embraced technology with open arms. And crypto being a seemingly new and experimental technology (in some some cases) is quite innovative. The technology behind the blockchain ledger is superb. I think that's why China has reconsidered their stance on Bitcoin/Cryptocurrencies. But we should remember that if China creates a cryptocurrency, the government will be heavily involved with it. It's a win win for us Crypto enthusiasts as China will open the doors for more exposure and adoption should they carry on with their plans

[Onuohakk]

Will not be surprise if China try to dominate the whole cryptosphere with their own coin cos that will always be their aim. In their latest top coins, they rated bitcoin at 11th position. Let's see what happens next in years to come, maybe their own coin may be as popular as bitcoin

[tenakha]

I know that some will be arguing that what China is cooking right now is not actually a real cryptocurrency due to its centralized and state-controlled nature. But what the heck, China is the next world superpower and it is seeing the vision of using cryptocurrency to further its entrenched economic position all the world.

I am seeing a great potential of this coming state cryptocurrency to be utilized in transacting business with China or in eCommerce department, and this is a huge potential. Jack Ma must already be thinking something how to exploit this great opportunity.

I have heard that China wants to create its own coin a few months ago, not now. They talked about Blockchain technology, and that does not mean they will create new own cryptocurrency. Or I am wrong, but where did you hear about this?

Are you seeing what I describe here? China is conquering the globe without using any sword...

Persia also created coins based on gold, but what happened? they could not even conquer themselves. Probably the problem was in Persia.

[alexsandria]

Are you seeing what I describe here? China is conquering the globe without using any sword...

Due to Chinese culture, chinese men are conservative when it comes to money. I don't think it would come into reality. Besides, if it would be deploy it is not even a crypto as it doesn't acquire crypto's basic feature. Beside it doesn't have any effect in our community since, it is not crypto. I don't think it would be in high demand specially for those crypto enthusiast 'cause China are totally against to crypto currency.

[yazher]

Indeed china will earn one of the biggest roles when cryptocurrencies bloomed in the next few years. They made a big impact on price after their president's statements adopting the use of cryptocurrencies. The price still holds the $9000+, with another good news about cryptocurrencies from them, the price will further increase.

[Bim abk]

Will not be surprise if China try to dominate the whole cryptosphere with their own coin cos that will always be their aim. In their latest top coins, they rated bitcoin at 11th position. Let's see what happens next in years to come, maybe their own coin may be as popular as bitcoin

yeah i think that way too, china has dominated the crypto market for a long time so when there is this kind of news i am more impressed with that. because many countries began to regard crypto as a technology that must be developed. just hope that if China does not monopolize the crypto market so that the authenticity of the crypto remains the same as the beginning

[Peanyut991]

I'm not surprised anymore with news like this. Because I am fully convinced that cryptocurrency is one of the best innovations that can help facilitate transactions for humans in the future. And now China has proven it, they adopt Blockchain technology and legalize cryptocurrency.

[yulionoo]

with the adoption of blockchain and cryptocurrency I think it will make China a more developed country. and in my opinion China makes its own crypto coins to rival bitcoin. but I don't think stable Chinese-made coins will be able to defeat decentralized bitcoin and already have a large community and market capitalization.
but I am optimistic that the presence of China crypto will make the cryptocurrency market more attractive.

[robelneo]

I know that some will be arguing that what China is cooking right now is not actually a real cryptocurrency due to its centralized and state-controlled nature. But what the heck, China is the next world superpower and it is seeing the vision of using cryptocurrency to further its entrenched economic position all the world.

I am seeing a great potential of this coming state cryptocurrency to be utilized in transacting business with China or in eCommerce department, and this is a huge potential. Jack Ma must already be thinking something how to exploit this great opportunity.

Are you seeing what I describe here? China is conquering the globe without using any sword...

China is good at modifying and imitating technology and blockchain is going to be part of that, if they confirm that they are going to launch one and release the full information about their coin, then Mark is right on his speech that China is going to use this technology to advance their supremacy and so Mark can rally his Libra Coin to compel congress to approve the launching of his Libra coin, we have so many development to watch out, and just in time for the halving.

[cryptothreads]

with the adoption of blockchain and cryptocurrency I think it will make China a more developed country. and in my opinion China makes its own crypto coins to rival bitcoin. but I don't think stable Chinese-made coins will be able to defeat decentralized bitcoin and already have a large community and market capitalization.
but I am optimistic that the presence of China crypto will make the cryptocurrency market more attractive.

China is the country with the largest number of investors in this market so only 10% of the country's population invest, anything can happen. I think the issuance of new coins will soon appear because China is taking this issue very seriously and will certainly be supported by many people when the government makes an official announcement. In my opinion, many other countries will also start to apply blockchain technology to life in order to fit the current trend.

The future may be difficult but hopefully one day everyone will know about this market and make things easier. Of course we have to wait for China to issue this coin and it is certainly the news everyone is wait.

[seleme]

I am not surprised to see a global leader started to adopt the technology boom with advancing the AI technology and implementing the blockchain facilities. The competition between the US and China is a name of a game in all sections of the world economy including blockchain technology. Government-backed cryptocurrency will start a new uptrend in my opinion but the conditions will not improve for the weak altcoin.

[akmal1984]

what China made did look centralized and not anonymous, it was clearly not the basics of crypto. but I heard they use blockchain technology. so it can still be said to be a crypto coin.

and if indeed the project is released it might disrupt the crypto ecosystem especially the stablecoin market and maybe bitcoin will also have an impact. however, I am optimistic that the impact will be positive for the crypto market as a whole. new funds will be added to the market, this is more than enough to make the market excited again.

Maybe time will make cryptos not as anonymous as their original purpose. However, blockchain technology will still be developed.
It could be that the Chinese government only anticipates that crime does not occur. Anonymity is very difficult to track who is the culprit.Now the crime rates on the internet are very high, so it is natural that they might try to control as much as possible anything related to breakthroughs in cyberspace.

[Perfect35]

The wisdom of this country when it comes to technological development, as off now is second to none. Well, others might try to overtake it soon. If care is not taken, China might take over the economic power through through the harnessing of cryptocurrency for further development. I think by now, US might begin to think towards that direction. That is if they do

[jets567]

China is a smart country, knowing the great potential of crypto that will not be unstoppable. They saw the crypto opportunity as one of the ways they controlled the world of commerce after they revived the modern silk route

Actually China is not keen to give their full support on cryptocurrency but the technology behind it which is the Blockchain, they are creating their own digital currency wherin they have full authority because they knew that Bitcoin and other cryptocurrency cannot be controlled due to its nature of being a decentralized system but they see the big potential on Blockchain technology that will boost their financial system.

[Botnake]

I am seeing the picture you want to relay to us, they might be using their own crypto but this will lead to users to be introduce on different kind of crypto currency.. IF there's no big potential to help the crypto space to grow, we would not see it pump in the past few days and stayed at a good price now, because it could easily go down if its just pure manipulation.

Maybe they will release it next year together with Libra's release if their plan will push through and that's gonna be a big news in the crypto space.
Also, halving time next year might also boost the hype.

[Darooghe]

China is going to make own Crypto for the reason it's government feels threatened by the coming revolution. It is exactly the same with Facebook(Libra), Venezuela (Petro) and the banks(Ripple). but You forget the most important point, Maybe the US government will ban us from buying the Chinese coin like they did the Petro. However, I honestly hope this causes other nations to rethink their contempt for cryptocurrency. China gaining first mover status and positioning as a reserve currency for the space is hopefully the fire everyone else needs lit under them, and Maybe this will end up being like a more certain, higher liquidity Tether and Bitcoin.

[sazonk]

indeed must appreciate that China has power in developing their cryptocurrency, and local governments are also very supportive even using crypto / blockhain technology as a legitimate tool in the wheel of their country's economy, and of course it has a wide impact for the whole world, especially countries that are familiar with using blockchain technology. , and also China, arguably they advance every aspect and potential possessed by their people. But it must also be remembered that the country that already knows and arguably the initial countries that use blockchain technology will not just stand still, there will certainly be a breakthrough in addressing developments / invasion of crypto technology from China