Quote from: prittMcp on Today at 06:25:21 AM

Quote from: toGETher_platform on Today at 06:15:50 AM

Quote from: Ditex on July 16, 2020, 12:43:46 PM

China to Test Digital Yuan on Food Delivery Platform With 435 Million Users

The People’s Bank of China (PBoC) is planning to add the food delivery giant Meituan Dianping to its list of platforms that will test real-world use cases of the digital yuan. This platform currently boasts of more than 435 million active users and billions of dollars of daily transactions. This creates a huge opportunity for the mass adoption of the digital yuan.

China is making fast progress. The central bank and its research wing have been increasing their efforts to explore the use cases of the digital currency in the real world.

In April, there were rumors about the launch of a wallet application across four Chinese cities — Shenzhen, Chengdu, Suzhou and Xiongan — for the initial testing of the digital currency.

I don't understand how the digital state currency will differ from a simple electronic format of money. If the currency is issued and controlled by the state, then this system is no different from fiat.

This can be said about any currency as long as only the state can own its emission. Monopoly of countries on the creation and ownership of the state currency. The whole problem is her.This can be said about any currency as long as only the state can own its emission. Monopoly of countries on the creation and ownership of the state currency. The whole problem is her.

But if we did not have a single currency and everyone had the right to create their own, this would lead to chaos. Take a look at world history. Scattered cities became states. Having deprived the power of the right to create money, we will return to the period of disparate cities.