China integrate smart contract in it digital yuan.

[tyrim88]

I think with this introduction of their own version of the cryptocurency virtual money it has really gone to show why they have been suppressing bitcoin.But the market has really gain its position in the market.

 

[Blessedsam60]

This is why I love china. They can see far than now. Although in my home country, we are planning to launch the same. This will boost up things.

 

[Ceeny007]

One thing I've learnt about smart contract from crypto is that it pushes the value of the currency upwards,I don't know what they hope to achieve but my country is planning to launch it's own too

 

[Heatman]

I actually was looking forward to this happening because with the way the Chinese government was trying to fight cryptocurrency means that they were after their own personal interest in it.

 

[ahmedo24]

China will try but can't succeed in fight cryptocurrency because without the existence of cryptocurrencies the blockchain technology they are building their smart contract on now may not be there now to use.

 

[GoldenLady]

The Chinese government is the first of all the countries adopting the central bank digital currency "CBDC " to integrate smart contract into its digital yuan. The name of the digital yuan is E-CNY. This is to allow self-executed transactions and payments. It's basically the reason why the smart contract is built on the blockchain

The CBDC projects spokesperson in china cited that the privacy of the small holders will be protected but the government will look into high transactions done with the digital yuan inorder to confirm if it conform with the money laundering and tax evasion policies of the country.

How do you see this development?

Its ironic how China is cracking down on cryptocurrency transactions when it's basically using the same thing and wouldn't have been here if not because of Bitcoin. This development will serve as a guide to other countries though.

 

[Sincerem]

They maybe moving forward with their own coin 'Digital Yuan, but most of the cryptocurrency lovers aren't happy with China CBDC after such unexpected crypto ban.

 

[Ub40]

It is now clear to me the reason for all this fight against bitcoin by China government, they want to have their own e-currency. I am not against this because it is not affecting me or my earnings in bitcoin in any way. To me, they took the right method for China citizen to see the need to embrace the new development. Let's see how the idea goes. I wish them all the best.

 

[Setho]

I've always been a fan of blockchain technology but then a lot remains to be seen about what China intends to do with your digital currency that other block chains do not offer.

 

[Justin]

Does it actually matter what China does with Digital Yuan, when it is just a digital version of fiat money which cannot be used for earning profits? Furthermore, no one will take interest in this aprt from Chinese government.

 

[tyrim88]

China will try but can't succeed in fight cryptocurrency because without the existence of cryptocurrencies the blockchain technology they are building their smart contract on now may not be there now to use.

One thing about the chinise government is that they want to have full control of their financial market,as a vast majority of the blockchain technology users are actually chinise.But they cannot actually bring down the influence of the crypto world.

 

[Jhayms07]

Well this is a good one for them. I think now I understand why they didn't accept Bitcoin. Well it's a good one for them and I think it is going to help their economy

 

[ahmedo24]

I am patiently waiting on how the outcome of their smart contract will be with a digital fiat stable currencies because most people are yet to use the yuan in China.

 

[nimzy]

To my opinion what so ever the government of a particular country or a nation decide concerning its economy this is all for the benefit of it country and the citizens at alarge may be they see it as a form of treat to it economic development.

 

[Ezekiel]

I just hope that this will enlighten our leaders to see needs to embrace the world of crypto I just don't kno why the government of our country doesn't want crypto,but this beneficial to others as well

 

[07Trinity]

The Chinese government is the first of all the countries adopting the central bank digital currency "CBDC " to integrate smart contract into its digital yuan. The name of the digital yuan is E-CNY. This is to allow self-executed transactions and payments. It's basically the reason why the smart contract is built on the blockchain

The CBDC projects spokesperson in china cited that the privacy of the small holders will be protected but the government will look into high transactions done with the digital yuan inorder to confirm if it conform with the money laundering and tax evasion policies of the country.

How do you see this development?

China have really been a force to reckon with when it comes to cryptocurrency space,they have shown formidable efforts as an independent country that can achieve their aim without any assistance.

 

[Suzzy001]

China is one of the smartest could try in oe ooke wide world, the step they take have made many people realize that China have a strong foresight.

 

[Skysaint]

The region I gear most frequently is always China, what's the connection between the region and cryptocurrency. I don't seem to get it, was cryptocurrency originated from China?

 

[ahmedo24]

China have really been a force to reckon with when it comes to cryptocurrency space,they have shown formidable efforts as an independent country that can achieve their aim without any assistance.

they were indeed a force to reckon with because they had cheap electricity for cryptocurrency miners to operate but since the crackdown on cryptocurrencies they are not longer a force because the market has fully recovered without them.

 

[Victorial]

Since my country loves to borrow money from China, I think the Nigerian government is looking at China's footsteps. Sadly, it will fail in Nigeria in no time