It is the first digital currency launched by a large economy and is a direct competitor with Bitcoin and other digital currencies. It had been run via small pilot programs in a few pilot cities including Shenzhen, Suzhou, and Chengdu with civil servants getting half their pay in the form of the digital yuan before its formal launch.
mandag 12. april 2021
Buh-Bye, Bitcoin: The PRC (China) Has Launched A Digital Yuan. And It Will Change Everything
Less than three weeks ago, I warned in these pages that Bitcoin buyers were “buying obsolescence” and that the fall – when investors recognized that – would be hard. One of reasons I foresaw was that a better digital currency could displace the Bitcoin (BTC-USD). Little did I realize my prognostication would begin to be realized so quickly. Earlier this week, the Wall Street Journal reported the People's Bank of China, communist (CCP) China’s central bank, unveiled a digital renminbi and encouraged its use by Chinese citizens.
