China: Digital-Yuan has nothing in common with Bitcoin | bitcoinMag.de
And suddenly everything will go very fast: China’s Central Bank announces the launch of the pilot project for Digital-Yuan in fact, for later this year.
China still makes 2019 nails with heads
So far, the Chinese kept a Central Bank, when it comes to information projects for the digital Version of the state currency, the Yuan. While President Xi Jinping had announced a few weeks ago, investment in the amount of several billion in the Blockchain projects. But when, finally, the digital currency will come, remained largely uncommented. Now Mu Changchun, Deputy Director of China’s most important Bank to the left: To the end of this year, the test is to start the phase. An interesting turn of events this is. The statements in the context of this disclosure, however, are basically more interesting. Mu Changchun was it in a recent Interview, especially important, clear differences between the Digital-to-Yuan and crypto-currencies such as Bitcoin or Ethereum to add.
Digital Yuan should first be tested
Here, give it apart on a technical level, little in common. Also with regard to previously available Stablecoins, the expert sees no reference points to the existing crypto market. Background of the Statements, particularly the note that the new Token to the Central Bank, no speculation is represent object. This is also confirmed in the in-house research centre of the People’s Bank of China (PBoC). The leadership of the Department referred in turn to the delineation of characteristics. China wants to ride also a direction other than Facebook, in the case of Libra dam. The national currency should be based solely on a real-world currency bound. On the compilation of a Basket of currencies such as the Plan of the Social media giant, the people’s Republic want to be without. The PBoC should be during the test-run lead and the project lead.
China opened the final crypto-competition of Central banks
As a Party to a number of major Chinese commercial banks, of the represented telecommunication service providers are China Telecom, as well as abroad, the controversial group Huawei in the network. In addition to users in the metropolis of Shenzhen will be able to participate in the first run prospective buyers in the provinces of Zhejiang and Hebei. Large amounts can initially be transferred. Early extensions do not seem to be ruled out. Important the Central Bank is that it is not an “either … or …” goes between the Yuan as a crypto – or Fiat money. It is more important to obtain an early position to the leading position, while Central banks such as those of France or the ECB are still in the planning stages.
Featured Image: V on t rending topics | flickr
