Post
Topic
Board Economics
Re: On the future of Cryptocurrencies
by
yananda
on 22/05/2021, 18:43:26 UTC
China is definitely going to launch their Digital Yuan somewhere in the future and probably might use some of the blockchain technology
I wouldn't be so sure about that... The digital yuan is, basically, a little upgraded fiat. If China was into blockchain technology they wouldn't enforce bans on trading and who knows, maybe they'll even go as far as prohibiting mining activity (though I hope they realize the financial consequences).

The real reason for all this is gaining even more power and depriving people of privacy. The yuan, digital or not, will be backed by the government and they will have the opportunity to track every single money transfer, and the commercial banks will be the ones that distribute the coins to customers.
Simply no point in the blockchain for them.
does that mean the banks will adopt the same system?
i heard other countries will also digitize currencies. if they only use part of the system and not copy completely, of course it cannot be called the same