China Government Cryptocurrency

[casperBGD]

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

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[hello_good_sir]

It'll be interesting to see how Alipay and Wechat responds to this.

Right now, these two e-payment giants are dominating China's remittance market and I think it'll be very difficult to get citizens to adopt another national cryptocurrency even from a central bank point of view, simply because people are accustomed to dealing with the two companies aforementioned and cash usage is at an all time low.

Perhaps Tencent and Alibaba will be called to cooperate on the matter. Who knows.

[CjMapope]

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

This i think will be good news, i can see alot of countries waiting for SOMEONE to do this first so they can follow
i wonder: would it have a public chain/explorer? that would be SO cool, but i doubt it haha
It always made sense to me that a national currency would work well on a chain, i mean we are moving towards a cashless society anyways it seems so why not?
if China is all in, 2020 should be good for BTC price wise!   it will be interesting to see with their technical bandwidth available what a COUNTRY can do with this tech :O

[Xie89]

I find it DEAD scary that a country like China (with their social credit system and total populace control) is the first one to implement a state crypto.

And a total opposite of what crypto stands for/should stand for.

[BlackFor3st]

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

It will be huge as China has the biggest number of population and even 50% of them will engage in crypto currencies then the market will surely be crowded. It will be the start of crypto currency world as I am sure that other countries will also do the same after the successful launch of China's crypto currency.

Even if it was controlled by their state what is more important right now is that we are currently moving forward to eliminating fiat in the near future. I am looking forward on how it can affect the market situation by this year.

[djgtr]

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

It will be huge as China has the biggest number of population and even 50% of them will engage in crypto currencies then the market will surely be crowded. It will be the start of crypto currency world as I am sure that other countries will also do the same after the successful launch of China's crypto currency.

Even if it was controlled by their state what is more important right now is that we are currently moving forward to eliminating fiat in the near future. I am looking forward on how it can affect the market situation by this year.

For that idea about what's the effect of the market this year, that always a big questions for everybody. China is now a biggest economy particular of the business firms that they had, and with cryptocurrency; I think this is very influencial for the top demands in the future. Hopefully as their cryptocurrency be launched successful will provide a greatest impact on entire crypto market.

[Aabcde]

Actually it is good for a country to make its own crypto. Aside from making it easier to save money in the future, you don't need to bother paying with your ordinary wallet.
I came to think, if DCEP can be owned by anyone other than in China, maybe later DCEP can gradually control the world economy? We know that China is actively becoming a leader in all aspects.

[deathcode]

Actually it is good for a country to make its own crypto. Aside from making it easier to save money in the future, you don't need to bother paying with your ordinary wallet.
I came to think, if DCEP can be owned by anyone other than in China, maybe later DCEP can gradually control the world economy? We know that China is actively becoming a leader in all aspects.

but it requires adjustments that may take a long time for everyone in the country to use crypto and begin to leave fiat. indeed the benefits are also great, and banks of a country will be greatly helped by the existence of this technology. but the success of a country's crypto is how it is used by all people.

[NathanJB]

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

This will only be a bad name in cryptocurrency. This will change the connotation of cryptocurrency. In the past, cryptocurrency is almost taken as equal to decentralization, transparency, freedom, etc. This crypto by china will be anything but those mentioned features. Let the chinese people decide which is better to use, although it is really difficult for them to choose as they are inside an authoritarian country.

[Yaunfitda]

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

I think it will be like a stable coin, (correct me if I'm wrong), so it will be completely competing with other stable coins or Libra, if they are going to release it this year.

But as far as influence to crypto? I'm not really sure about that, it could be, but I don't think it will have a drastic effect because it is a government back up, and crypto enthusiast hate that sort of thing. So for me, there will be no hype or after effect in the whole crypto sphere.

[Bossfidelity]

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

It's quite interesting and a commendable achievement for the nation. I have a positive feeling about the project and believe that it would contribute to increase awareness about the existence of cryptocurrency in the globe. I would love if the national cryptocurrency could be exchanged for Bitcoin and other cryptocurrencies.

[Dickiy]

it is not impossible for China to do that because China is one of the biggest economies in the world and the Chinese cryptocurrency exchange is very good in my opinion one of them is HUOBI, if it is released on November 11 2020 it could be this is a halving happening on bitcoin

[mamahdedeh]

China is planning to launch their crypto currency, with attention to distribution and adoption, since they are involving all four major banks in the country, two major e-commerce websites Alibaba and Tencent and UnionPay as online payment provider for all four state banks involved in the project

crypto will be centralized and controlled by the state, but high level of acceptance shall be expected

plan is to launch it no later than 2020, november 11, according to latest news, will be interesting how this is going to influence crypto markets this year

I think it will be like a stable coin, (correct me if I'm wrong), so it will be completely competing with other stable coins or Libra, if they are going to release it this year.

But as far as influence to crypto? I'm not really sure about that, it could be, but I don't think it will have a drastic effect because it is a government back up, and crypto enthusiast hate that sort of thing. So for me, there will be no hype or after effect in the whole crypto sphere.

Libra is under government control, while crypto is not, but with the presence of Libra it will indeed be a stable coin, because it is controlled by the central government. we can see in the future what will happen with crypto in the presence of libra

[asriloni]

I find it DEAD scary that a country like China (with their social credit system and total populace control) is the first one to implement a state crypto.

And a total opposite of what crypto stands for/should stand for.

Caused by that's a dictate country or what?

My take in the next digital yuan that will be created by china to be a counterbalance for crypto as crypto was also getting a very huge demand from the china.

Remember if that was on of bitcoin house too.

[bitvalak]

That will not weaken the main cryptocurrency. They only use crypto technology to create their own digital currencies, not to intervene against bitcoin and other altcoins.
Because they know that cryptocurrency is very easy to be adopted with the current high demand. Alipay and Tencent will certainly provide a good surprise because they also run in the technology sector and marketplace.

[Dpat]

The China Govt. already banned the cryptocurrency in the last year after making through examination. But, still there are some legit coin like the Bitcoin, Ripple, Ethereum are transacted. But, as the China market the biggest one banned the crypto so the effect is fall in whole crypto market in the world.

[Furious 7]

I think it's good news that the Chinese government will launch its own digital currency with the adoption of blockhchain.
If this affects the price in the crypto market it will be better as long as the Chinese government does not control its entire cryptocurrency because global crypto has its own way so that this can also be influenced by the Chinese digital currency itself.
If it involves large banks and online stores in China, it will be easy for many people to shop and shop there.

[JeotQ]

When this china coin goes live this year i bet binance will be one of the first exchange to add the digital currency as pair on it's exchange, these coins will only make more people be aware of crypto coins and it's no threat to other coins since it's a stable coin

[tranduong123]

China's creation of its own cryptocurrency will undoubtedly motivate other countries to do the same, especially the United States. I think it will only be a matter of time before the United States introduces a private cryptocurrency

[piebeyb]

I guarantee their cryptocurrency project will succeed, because I know that the Chinese population is very large so that adoption will also be quite large, but only in China, not in other countries, because it will not be famous out there except bitcoin and other crypto currencies in the whole world is not focused on adopting just one country, but we don't know if they will change their mind and start adopting bitcoin and other cryptocurrency clearly we will support it, I'm still a little sure the launch of their crypto currency will have a positive impact on the currency Other crypto includes bitcoin