Chinese banks ordered staffs to attract 200-300 new users to use CBDC

[Josemendez]

Well, I don't know how it is going to work, but I think they are introducing it just to compete or have their crypto coin. Even if it is similar they have the population to make it a success.

They thought that the issue is on being digital , they forget that it is more on the volatility of the coin . Digital Fiat currency are not volatile in any way.

 

[Sincerem]

They thought that the issue is on being digital , they forget that it is more on the volatility of the coin . Digital Fiat currency are not volatile in any way.

Not volatile in any way dear, that's why the digital Yuan is created by the Chinese government. They don't want to feel worrying cos of volatility, they just want the value to remain like the physical Yuan.

 

[GIFTMICHAEL]

That's a perfect way of marketing their own coin to the people. They've commanded other local banks as obligation to meet up with the task at hand and earn stimulus packages from it.

 

[Josemendez]

Not volatile in any way dear, that's why the digital Yuan is created by the Chinese government. They don't want to feel worrying cos of volatility, they just want the value to remain like the physical Yuan.

That's my point. There is nothing in digital Yuan that is special nor will attract more investors to it. I think digital Yuan is just a counter measure to cryptocurrency.

 

[Snazzy001]

This is quite incredible but I feel that the standard to which they are giving their workers to reach I might be a bit stressing to them

 

[Kelly5]

You'll see that more and more bigger and powerful countries will soon Begin to adopt the use of this cryptocurrency In no distant future and the buhaha about this cryptocurrency some ignorant government are causing will die down completely

 

[Sincerem]

That's my point. There is nothing in digital Yuan that is special nor will attract more investors to it. I think digital Yuan is just a counter measure to cryptocurrency.

Their is nothing there attracting any investor outside China hoping to make money through crypto that will consider digital Yuan as an option. I'll instead go for stable coins if that's the case.

 

[Nomad]

China is trying to digitize its financial sector. It wants to reduce the use of bank notes and instead switch to digital version of bank notes. That's why they banned cryptocurrencies.

 

[Nurudeen]

The Digital yuan will be meant for China only and not for the whole world so I don't think it can affect the economy of the world and even crypto currency exchange Business. China are not just ready to embrace the truth with crypto currency

 

[Snazzy001]

In my opinion I think what they are trying to do is that they're trying to enforce hard work and productivity in their staff and trying to win more customers over

 

[Sincerem]

China is trying to digitize its financial sector. It wants to reduce the use of bank notes and instead switch to digital version of bank notes. That's why they banned cryptocurrencies.

That's exactly their purpose of creating the digital Yuan and banning crypto. Cos they know with Cryptocurrency their digital Yuan won't be generally accepted by its citizens.

 

[Josemendez]

Their is nothing there attracting any investor outside China hoping to make money through crypto that will consider digital Yuan as an option. I'll instead go for stable coins if that's the case.

Exactly my thoughts. People are not even happy with China as they contributed to what is happening in the cryptocurrency market presently now.

 

[Stylex]

Woo
Just hearing that from you
They have ordered staffs to attract 200 to 300 new user to use CBCD
But what for I mean what are they going to do with the

 

[Hena101]

This is what I think the Nigerian government should have done, don't just phase out something first find a replacement for it otherwise people would find alternatives themselves.

That's a very good idea but you know our government here are not good at finding alternative to something they are just good destroying so that people will continue to suffer for what they know would have work for them.

 

[Josemendez]

Woo
Just hearing that from you
They have ordered staffs to attract 200 to 300 new user to use CBCD
But what for I mean what are they going to do with the

It is a strategy to force people towards accepting the newly created central bank digital currency because they know very well that their citizens are not happy with it

 

[Sincerem]

Exactly my thoughts. People are not even happy with China as they contributed to what is happening in the cryptocurrency market presently now.

I'm not happy though, with their decision to ban Cryptocurrency and marking of their own coin. Other crypto lovers aren't happy for that too.

 

[GoldenLady]

Its no secrete that banks in China have ordered their staffs on errand to deliver 200-300 new Digital Yuan users annually to increase its userbase, and make the coin a popular choice like any other digital currency out there.

They're offering incentive too, for users who installed the Central bank digital currency (CBDC) wallet. With offers such as, umbrellas, Tissues, Laundry detergents, data cables etc, to be given out to the new users encouraging their efforts.

The Chinese Central bank have made it clear that, banks yearly commission will increase based on the success rate of promoting the Digital Yuan to reach to many others.

Do you think the newly created Chinese Digital Yuan will become a mainstay, and become a sort after coin in the digital ecosystem to usurp the high demand of the volatile coins??

The digital Yuan may be an attractive alternative for payment but it's lack of volatility would make it less attractive that other coins and tokens to investors.

 

[Kingstone]

I think that was the first step that they took before they went back on their decision on cryptocurrency. Having their coin is very good but such can't be replicated in all countries. It's going to help their economy no doubt

 

[Sincerem]

The digital Yuan may be an attractive alternative for payment but it's lack of volatility would make it less attractive that other coins and tokens to investors.

I rather save money using USDT coin, if I'm looking for a way to stabilize my finance. I don't see anything attracting me around digital Yuan.