Post
Topic
Board Economics
Re: What do people think about CBDC?
by
Sithara007
on 17/10/2021, 02:51:13 UTC
Perhaps we should first find out how effective the China cbdc so far since it was launched then you can draw up some ideas what will happen in other countries if cbdc is introduced,
To me it will same as any other government owned project which is heavily centralise and control the people, however,  if people are given the option to choose between cbdc and other crypto, many people won't bother about cbdc.

There was a lot of hype when China launched their CBDC. Months have passed, and the government even imposed a blanket ban on cryptocurrency to remove any potential competition. But I haven't heard about anyone using the e-CNY yet. For usage within China, the fiat users already have digital versions of the RMB. And for international transaction, a lot of users prefer stable fiat currencies such as USD and EUR over the manipulated Chinese Yuan. If their intention was to replace the BTC, then it hasn't been achieved as of yet.