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

[X-ray]

It is simple because of the regulations in their country. In china, the government itself are favor to launch a coin while the Facebook is having a hard time because of the regulations that should be followed. There are people who are not favor to libra coin and that's why the process are so slow.

It is just recently that China is in favour of blockchain although I've never heard the news about china releasing crypto really other than just a rumour but it's kinda different if you compare China to Facebook here basically you are comparing a country with a private company.
In this case China could easily launch a coin because they make the regulation themselves but Facebook has to obey the regulation and there's no other way around. It's like a dead end for the company if they are about to be trapped into this regulation.

[Shasha80]

It's clear the difference is in the creator of the coin, if China launches it's own coin the creator of the Chinese government
itself clearly does not need to ask for permission. Different from its creator libra facebook, therefore it needs the permission
of the USA government from that China coins are easier to launch than libra coins which are hampered by permission from
the USA.And also Facebook as the largest shareholder of Libra has a case related to the security of its customer data, this is
causing the USA government is heavy in giving permits.

[ven7net]

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?

I believe that China wants to take the lead in cryptocurrency and for this it is enough for them to launch their own cryptocurrency first. Now there is a struggle for leadership in the crypto sector, which means we are right now seeing the battle of large players for the crypto market. In any case, it should be good for you and me, regardless of who is the first to launch his cryptocurrency.

[Inu.Guren]

of course china can do that easily because on this country blockchain and cryptocurrency industry are supported by goverment where facebook must face regulation from goverment where in america blockchain and cryptocurrency are restricted

[Pamadar]

of course china can do that easily because on this country blockchain and cryptocurrency industry are supported by goverment where facebook must face regulation from goverment where in america blockchain and cryptocurrency are restricted

Consider also that the person behind this two proposals have different state from their respective countries. china's coin was proposed by the president itself while Libra was introduced by facebook president and being back up by some other businesses behind. It's not a surprised that China's proposed crypto will be much quicker to launch as like what you have said, the government itself who are aiming for it to be available and useful while the Libra coin have difficulty to convince the congress.

[Savemore]

of course china can do that easily because on this country blockchain and cryptocurrency industry are supported by goverment where facebook must face regulation from goverment where in america blockchain and cryptocurrency are restricted

Consider also that the person behind this two proposals have different state from their respective countries. china's coin was proposed by the president itself while Libra was introduced by facebook president and being back up by some other businesses behind. It's not a surprised that China's proposed crypto will be much quicker to launch as like what you have said, the government itself who are aiming for it to be available and useful while the Libra coin have difficulty to convince the congress.

Their president Xi Jinping are the one who proposed to create a coin in their country and that's why the process is very fast unlike in U.S, the libra coin that backed by the facebook are having hard time to pass in the congress because of the regulations.

[electronicash]

a country can easy launch a coin if its government back coin like china. but it ain't easy for a government to do that. china can easily do it since an authoritarian government can implement for its citizen.

facebook coin though will be good for adoption but regulation will take them down, its not a government backed project so its not easy for them to launch.

[m0Ray]

The difference is that China issues state-owned cryptocurrency. Facebook is a private company that wanted to issue a regulated cryptocurrency. But these are different things. China in this case very much succeeded and the shares of their companies were able to soar. Only I can not understand why because of such news the shares of amerekan companies also rose by 1.5%?

[biddicoin]

China is government, Facebook is company, they are different and we all know why it would be different to get permission

but, i wanna say smth. it tells to us that the big giant would join to this technology revolution. no matter how big the company is, how big the country is, etc

i see bright future from those things, im optimistis as f*ck with this technology

[panganib999]

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?

Well of course, China will have the most potential of success in launching its own coin than facebook. Although facebook has the popularity for being the most used social media platform, having massive adaption and being on the mainstream for so long. China wil have the upperhand because of having a good economic condition. China is one of the leading countries in the world and has the largest population, aside from their good influence globally, their population would be of good help with the adaption of the coin once China's coin is launched.

[Perfect35]

When the government is fully involved in the launched of a thing, particular this time that it is cryptocurrency, it will surely materialize and will be easy. However, what China want to launch centralized. Facebook on the other hand is having hard time, because the government and that those in authority are not supporting it.

[pgbit]

This is one area where I think China has an edge over USA, while we have to admit that Libra is not owned by the USA Government and one of the reasons why they are kicking against it is that it puts too much power in the hands of an individual who isn't part of th Government, I also have to admit that if it were the USA trying to launch their own cryptocurrency, it would take them a while lot of time to think and execute it cos it has to has through many books and go through a bunch of approvals from different arms of Government before it's eventually implemented.

[Murat]

When your countryman is willing to create a blockchain platform then nothing could stop this system, So In China, it's looking very easier than Libra where the USA government is not in favour, I think that's the main reason in order to allow blockchain in China, two biggest economic countries are trying to dominate and defeat each other, when the USA takes an initiative then China takes another different aspect, by this war, I think blockchain will get established around the world, so war sometimes brings a positive thing also, so It's matter of time China is going to be the first country to launch Blockchain system officially.

[DabsPoorVersion]

The difference is that China issues state-owned cryptocurrency. Facebook is a private company that wanted to issue a regulated cryptocurrency. But these are different things. China in this case very much succeeded and the shares of their companies were able to soar. Only I can not understand why because of such news the shares of amerekan companies also rose by 1.5%?

China has more chance here to have and successfully launched its own coin compared to Facebook. Chinese government led the adoption of blockchain and it's their smartest move to start building a coin.
Facebook is still having a hard time to propose their crypto to be legalized by their government. If this is somehow also considered by the US government, then maybe Facebook can have the same movement as China.

[trauchot]

That's right, because nobody can forbid anything to China and China can create their own cryptocurrency at any time, but in the USA, as we know, everything is much more complicated with cryptocurrencies and every cryptocurrency created there goes through too many checks and problems due to which almost all cryptocurrencies companies are closing there.

[Aabcde]

Yes, of course, the road for China is very easy because their own president agreed. While Facebook with Libra is not the holder of power in the US. So it's clear DCEP will lead the launch rather than Libra.
If later Libra is realized, it might not be long for adoption when viewed from the number of Facebook users gathered from all over the world. Whereas China's DCEP might be used for their own country.

[Drai]

This Chinese are a very competitive set of people especially at a time like this where they are fighting very heard to grab more power in the international stage adjust the quiet battle between US and Chinese companies, I am not the least bit surprised by the change of heart by the Chinese Government, infact I was even expecting it but one thing I can say about them is that they are definitely decisive and can move fast when they want to and this incident just proved it, 2020 looks like a great year for Cryptocurrencies especially if other major countries would also follow on the Chinese footsteps.

[sulis sudibyo]

yes maybe China will launch their own crypto, but please note that the crypto plan will be managed directly by its central bank. so that means the coin cannot be said to be crypto because it is centralized and controlled. it's just like Fiat money, they only use blockchain as a tool for promotion. and to make people forget the purpose for which the coin was made. I heard that the coin was made so that the government can monitor the online activities of its citizens, they can monitor what they buy on the internet and others. isn't that worse?

[Colt81]

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?

I don't think that Libra coin Facebook is having a hard time on launching their coin because Facebook already have plans before they launch their coin in the year of 2020. I think the reason why China will be taking the first step on launching their coin because their government starts to regulate blockchain technology and they are very competitive that they wanted surpass Facebook.

[Pet240]

SEC or any other financial institution cannot act against what the government of China has come up with, because they are not subject to them.
Libra is subject to this authority and that is why they can be stopped or controlled in whatever form or way they feel.