China can easily launch a coin while Facebook is having a hard time

[robelneo]

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

[avikz]

If a government wants to make their own digital money, who is going to stop them? It's their own choice whether to pursue this matter or not!

But when it comes to a third party, it requires a lot of licenses and compliances to be followed. So these two types of coins can't really be compared with each other! China's digital money is mainly being created for their own people while Facebook is trying to create a global ecosystem!

There are 195 countries in the world. Each of them are different and has different economy structure and challenges. You can understand the kind of pain is faced by the legal council of Facebook!

[TRONTON]

The PBOC has been researching this since 2014 even though they opposed the cryptocurrency before. I see China preparing itself to be more complete, especially when Japan is very confident with MUFG's launch.

With DCEP, China will develop wider potential and plan Alipay etc. to use this currency compulsorily, they want to focus nationally. So if this is related to libra, then xinping has the right momentum for global publications, because they prepare this for a long time and don't even connect with libra at all.

[JeffBrad12]

Not an apple to apple to compare facebook's cases to China. Even I've never heard China is going to launch their own coin anyway all that is spoken by Xi Jinping is just accelerating the use of blockchain doesn't necessarily saying that China will release their own crypto coin.
What become facebook's problem is that it is a private company trying to issue a currency by their own and could possibly challenge the dominance of USD in the US and worlds. ofcourse the government wil try all they can to stop such a thing from happening they want an absolute control over literally everything.

[livingfree]

It's the government of China so there will be no problem if they will ever launch their own coin. But, I don't see that coin to be a good preference for the Chinese people, for some reasons they will be forced to use and support it.

And the other thought that I have on my mind is impossible to happen that facebook can relocate somewhere and continue this project. China's decision about crypto and blockchain is changing and hard to read.

[Hippocrypto]

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

On that point where China's currency is certainly constrained by their  central bank, I think it was possible to launch their own coin sooner.  Unlike with libra's ongoing debate for their own crypto, which was not having positive outlook from their own government.
Good thing about China, President's will was to support cryptocurrency as his words stated the desire on implementing blockchain to their government financial economy.

[Pearls Before Swine]

But when it comes to a third party, it requires a lot of licenses and compliances to be followed. So these two types of coins can't really be compared with each other!

Exactly, but I don't think a lot of people start threads after doing a lot of thinking about these things.  Seems pretty obvious to me.  Gov'ts, all of them, are in charge of their countries' monetary system, not private corporations.  Facebook trying to create a crypto (and a stable coin at that) is something very new, something that gov'ts haven't encountered before, which is why Libra is getting so much scrutiny.

China probably wants to discourage its citizens from using bitcoin, because it poses a threat to its communist system.  That's the only reason I can think of as to why they would want to create their own coin.  Regardless, any crypto created by a gov't is going to be a piece of centralized crap.  Mark my words.

[BlackFor3st]

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Yeah your right, China is free to do what they want unlike Libra that they need the approval of US first before they can launch which is the disadvantage of Libra.

There is a big possibility that Libra can't be launch compared to China currency that they can launch it anytime especially that it is being backed by Xi Jinping and China's Central bank. I would like to see how it will proceeds in the future whether this two will become rival or Libra will dead before it can launch.

[rodel caling]

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Actually the different of that two coins is the government support its obvious china coin is supported by the government under central bank of china so nothing possible that coin fast to become expensive.
Libra coun is also a potential coin become expensive we all know that because the devs of that project is thhe most popular social media worldwide, but the proble is US need support form the US givernment to apprive this project to lunch the project.

[stephanirain]

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

China has bigger scope in terms of power and influence in the market than Facebook. The country has that kind of reputation as a sleeping dragon that is slowly awakes. Facebook had looked like just a regular ICO for me because I didn't feel that their project will be relevant to the market. If Facebook is mainly a online shopping platform, maybe their project might get more interest.

[SamboNZ]

China doesnt have any regulation issues because the state made it meanwhile for Libra its runned by a private entity there would be issues in tracking their financial transactions and can make free money out of thin air that is why it will be a problem for the government.

[Kemarit]

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Yeah, obviously it has the backing of it's President that's why China coin could be easily created without any backlash for now. But I guess the question is, what are the real plans of China here, will it be domestically used or will they have a plans similar to Facebook in the future? Are they going to challenge $$$ for being the most dominant currency in the world market?

[knuckey]

That's right and this is very different, where facebook stopped because of regulations that do not allow to launch libra. We cannot compare it to China, where their own power holders or Presidents have expressed interest in the blockchain and maybe the crypto industry, so there is no longer an obstacle and they are ready to create, develop cryptos as they wish, whenever they want.

[Dreamr]

China could easily launch Chinacoin while Facebook is getting a kick in the butt by congress.
I think China saw the potential in blockchain and cryptocurrency that is when they are considering the blockchain technology.
We all know U.S Dollar is the major currency in the trading world and with the current trade war between China & U.S - China is losing that is why'll introduce new Chinacoin - lol! Sorry, this is just my assumption.   

[NewRanger]

That's right and this is very different, where facebook stopped because of regulations that do not allow to launch libra. We cannot compare it to China, where their own power holders or Presidents have expressed interest in the blockchain and maybe the crypto industry, so there is no longer an obstacle and they are ready to create, develop cryptos as they wish, whenever they want.

that's differentiate facebook and china.libra just a coins that builded from giant company and it could stopped by local policy, meanwhile DCEP created by china that has super power in any field in the world.they could do anything they want.if any company or community that against china, it could be make sure crypto currency market will crash again.and when china launched their own coin, it show thie interest at crypo developtment.

[kawetsriyanto]

The influence of powerful people is indeed very large in the world of crypto. As happened to Libra coin that faces big and heavy problems related to decisions and statements of superpowers regarding these coins.

And now about the coins to be worked on by China, the chances of success will be higher because they are supported by people who are very influential in the country.

And could this possibly affect the ICOs which had been banned in the country?

[magneto]

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Of course. China's potential crypto project has the backing of a government, while Libra is the opposite of that - the FED, the SEC, and a bunch of regulatories agencies are all of their tails for trying to launch their token.

These inherent structural differences between the two projects are what is causing this.

But either way, both cryptos will not be decentralised which is why this news doesn't really interest me at all.

[desticy]

I think that at the moment we are dealing with blah blah blah. In the current situation, you can say anything, but trust only makes sense to action.
Now we just do not see them. We are witnesses to the information war in the digital race, which in the future is likely to bring digital assets to a completely new level.
But now, I would filter any incoming information in double.

[zeze18]

Facebook is also easily launched libra but it's struggling with people acceptance because big investors still see cryptocurrency is a bubble.
China will easily launch a coin but we still don't know people acceptance, will the coins grow or people won't use it because it's regulated and controllable by the government.

[efxtrader]

All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,

It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.

What's your thought on this?

Difficulties faced by Facebook in launching Libra are different from the regulations and political systems implemented by the Chinese Government. The Chinese political system adheres to and is subject to the President because the communist system is used while the US Government considers more regulations that have been made.