China's digital yuan vs US dollar

[G.Belaci]

China is speeding it testing on the digital yuan. It will not take to long before the digital Yuan can be implemented and it believe China will become less independent on the US Dollar.

Is this a good thing or will China become even more economically powerful?  https://www.worldcoinindex.com/nl/news/chinese-central-bank-deputy-governor-wants-china-to-accelerate-pboc-rollout

[thenextking]

Very good for China winner take all

[G.Belaci]

Very good for China winner take all

I wonder if the relationship between US and China will improve if Biden becomes president.

[bitkanu]

it looks like all of major countries will enter into the digitalization for the stable coin at the same time. I remember a few weeks ago some banks like the fed, European central bank, imf have already prepared the draft for ruling the stable coin too.

This will become a major competition but I didn't even think this will change a lot.
Im still also waiting for the result for the test of digital yuan.

[Akiko]

Very good for China winner take all

I wonder if the relationship between US and China will improve if Biden becomes president.

No it won't who ever the president is it will never change the situation with China they are now battling for power .

And for digital yuan it's a wakeup call for every country to adopt this new technology and have thier own if they don't want to be left behind with other big countries.

[tvplus006]

... Is this a good thing or will China become even more economically powerful? 

I don't see any connection between the fact that China is testing the digital yuan and the fact that it will become more economically independent as a result. The Chinese government artificially weakens the Fiat yuan in order to increase the competitiveness of Chinese goods. The same problem will be with the digital yuan.

[SquirrelJulietGarden]

The bank system is a shit system and it will be bailed out soon. In dictative communism nations like China, local bank system is controlled by governments and they can do anything they want. They can print unlimited paper fiat (yuan) and they can mint unlimited digital yuan.

Just a change from old system to digitalized system. The centralization won't be changed by digital yuan. With digital yuan, government can better trace your transaction history rather than with paper fiat yuan.

[tsaroz]

China is actually integrating its money with it's social credit system and facial recognition system. It plans to have a complete information of people and their income and expenditure. They are testing digital payments made through facial recognition so that everyone would be paid on their face(eye) account and they spend their money through their face. For all of these to be reliable, safe and efficient, they needed blockchain technology.
Though it's an improvement in technology and scope of blockchain, it's against the original idea of satoshi and cryptocurrency.

[BenjaminFranklingwould]

To be honest, I trust dollar more than the yuan.Therefore, I don't want  store fiat in yuan. But in some regions, digital yuan may gain popularity. I also think that the digital dollar will appear in the future. Many countries will launch their digital currencies.

[MWesterweele]

Very good for China winner take all

I wonder if the relationship between US and China will improve if Biden becomes president.

No it won't who ever the president is it will never change the situation with China they are now battling for power .

And for digital yuan it's a wakeup call for every country to adopt this new technology and have thier own if they don't want to be left behind with other big countries.

I am not sure but as what i know china and US wasn't in good terms and the competition between this two countries gets stronger. China wants to prove that they will become a dominant country in terms of goods and services and so businesses. The development of digital yuan was an indication that this country has become open to digital currencies, and this may affect the economic growth of fiat and this may become an advantage of China over any country.

[ARTCOINSLV]

China is speeding it testing on the digital yuan. It will not take to long before the digital Yuan can be implemented and it believe China will become less independent on the US Dollar.

Is this a good thing or will China become even more economically powerful?  https://www.worldcoinindex.com/nl/news/chinese-central-bank-deputy-governor-wants-china-to-accelerate-pboc-rollout

China won't be the first for long .
As soon as they introduce the digital yuan. we will immediately see the digital dollar and euro.
I am concerned about another question, It will kill USDT ?

[Snappycoco]

With the current economical status between the two, it is quite unforeseeable that china would economically powerful that US. Having these newly implemented digital currency would even speed up their current situation. They weren't that much hit by the Corona even if they are the 1st ones to have it.

[Princejebs]

I wonder if the relationship between US and China will improve if Biden becomes president.

There is close symbiotic relationship between US and China, if it no longer exist, it will largely affect the two side.
It's either low demand of goods in China if Yaun decrease which will definitely increase goods price for for US and its neighboring countries, I don't expect increase in demand as well, and vice-versa.
Don't expect miracle to happen so soon, I'm not a pro US but that country don't joke with their economy and currency, who knows Biden may do the opposite what people expect, to continue trumper US
Contrary opinion! China digital Yuan would still be government money with full centralization by the central bank, bad idea for me.
We need decentralized environment, I will choose bitcoin and alts any day, any time any place.

[Byakuga]

China is speeding it testing on the digital yuan. It will not take to long before the digital Yuan can be implemented and it believe China will become less independent on the US Dollar.

Is this a good thing or will China become even more economically powerful?  https://www.worldcoinindex.com/nl/news/chinese-central-bank-deputy-governor-wants-china-to-accelerate-pboc-rollout

China is a powerful country economically that's a fact but I'm very sure that other countries will follow up without wasting anytime, most especially united States of america, they don't like taking the last when it comes to one step ahead, always competitive but china is more friendly with crypto and digital currency, they will always be ahead of other countries.

[ilovealtcoins]

According to the data, the renminbi rate increased continuously and the strongest in 10 years.
According to FactSet data, from the beginning of July to the end of the trading session on Wednesday (September 30), the yuan rose 3.9% against the USD - an increase that marked the strongest quarterly increase since early 2008.
I think the value of the yuan has increased due to the return of the Chinese economy due to the good control of the COVID19 pandemic and the share value of Chinese companies giving better interest rates than other countries.
The advent of the Chinese digital currency will change the Chinese economy in the future. America will have to race to create its own digital currency.

[Kunnu]

It's my estimate that digital yuan may leave a positive impact on the economy of China but I am not sure that how much it will be acceptable globally because people have been addicted of US Dollar now it will be interesting to see that how digital yuan will manage its place.

[X-ray]

The yuan digitalization will brings nothing for economical grow. In my opinion if the digitalization that has already done by china to make sure its country can lead the adoption for the future technology and bring the innovation to make the system became more efficient and effective to be used massively on its country and territory.

It has nothing to do with the dollar and so many stable cois are using the dollars too. Im thinking there will be no difference but the more adoption will come for crypto.

[cabron]

The yuan digitalization will brings nothing for economical grow. In my opinion if the digitalization that has already done by china to make sure its country can lead the adoption for the future technology and bring the innovation to make the system became more efficient and effective to be used massively on its country and territory.

It has nothing to do with the dollar and so many stable cois are using the dollars too. Im thinking there will be no difference but the more adoption will come for crypto.

Of course it will bring economic growth, it would be pointless developing it.

Not exactly will kill USDT but Yuan will be accepted in different platforms. With China being where all the products came from, you'd really be considering accepting the digital currency because a person going to be trading there or simply visit Hongkong, you will likely be exchanging your currency to digital yuan in order to make your life easy while staying there.

[RealMalatesta]

You know what would be the biggest difference? China has done this as a nation, their government is involved with this and there is no way we could ever see them all separate from each other, it is obvious that Chinese government that is so dictatorial that they killed a lot of Muslims and attacked the nearby nations as well, is in control of this yuan so if you want to use it yourself as well you will be under constant surveillance of china too.

However USA doesn't even need to do it as a government, private companies can do it and it would still be loved, why? Because true understanding of freedom is letting people do whatever you want without government trying to stop you unless you are doing something illegal, governments shouldn't do something instead of private entities unless there is no private entity willing to do it.

[semobo]

China is speeding it testing on the digital yuan. It will not take to long before the digital Yuan can be implemented and it believe China will become less independent on the US Dollar.

Is this a good thing or will China become even more economically powerful?  https://www.worldcoinindex.com/nl/news/chinese-central-bank-deputy-governor-wants-china-to-accelerate-pboc-rollout

Making the Yuan digital is not going to change anything, the reserve currency will still be USD and there maybe some countries accepting as Yuan itself but it is not going to affect the price of US dollar globally. But USD has reasons as well to fall since more money printed in short time made the value to be inflated in the next few months...