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The Chinese government and the country’s central bank, the People’s Bank of China (PBoC), are currently in the midst of testing a digital yuan or central bank digital currency (CBDC). Now the Chinese ride-hailing corporation Didi Chuxing will be trialing the newly developed digital yuan in a “strategic partnership.” Whether people want to believe it […]
The post China’s Giant Ride-Hailing Service Didi to Pilot the Central Bank’s Digital Yuan appeared first on Bitcoin News.
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Brad Garlinghouse, the CEO of Ripple, has taken to Twitter urging U.S. regulators to get on board with cryptocurrencies, or risk losing global financial dominance to China.
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As China stops the spread of COVID-19 inside the country, the government announced two of the largest crypto and blockchain-related developments.
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China’s economy is the second-largest in the world and economists believe the country may someday bring a new global order and end the Western hemisphere’s financial rule. In 2020, various reports show that China’s central bank will soon release a cryptocurrency that represents a digital yuan. This week, regional reports show that 19 well known […]
The post Digital Yuan to Fuel China’s Economic Reign – McDonald’s, Starbucks, Subway Test PBoC’s Cryptocurrency appeared first on Bitcoin News.
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Amid the coronavirus pandemic, China’s central bank has reportedly completed the basic development of the nation’s central bank digital currency. The central bank is now drafting legislation for its circulation, according to local media. A number of patents have revealed what the digital yuan will be like. Also read: 2x Bitcoin — Wanna Double Your […]
The post China Is Drafting Laws for the Circulation of National Digital Currency appeared first on Bitcoin News.
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Cointelegraph interviews professionals working in the cryptocurrency industry in China to asses the effects of coronavirus on the local crypto economy
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A sea change is coming to cryptocurrency in America. It is likely to hit in two separate waves: a central bank digital currency (CBDC) and draconian regulation that shuts down free-market activities, including development. Also Read: No Backdoor on Human Rights: Why Encryption Cannot Be Compromised The Wave of a Central Bank Digital Currency Robert […]
The post A Sea Change to Crypto Hits America, Again appeared first on Bitcoin News.
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The People’s Bank of China (PBOC) has reportedly filed 84 patents relating to its plans to launch a digital currency. The patents reveal the central bank’s plans which include integrating digital currency wallets into existing retail bank accounts. The potential for the Chinese central bank digital currency to achieve scale from the get-go has put […]
The post 84 PBOC Digital Currency Patents Show the Extent of China’s Digital Yuan appeared first on Bitcoin News.
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In his testimony before the House Financial Services Committee, Federal Reserve Chairman Jerome Powell answered a number of questions regarding digital currencies. While stating that “a ledger where you know everybody’s payments” is not a problem in China, he believes it is not attractive for the U.S. Admitting that Facebook’s Libra project was a wake-up […]
The post Fed Chair Powell Reveals US Response to China’s Digital Yuan, Libra, Public Payments Ledger appeared first on Bitcoin News.
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A new report from Deutsche Bank Research, Digital Currencies: the Ultimate Hard Power Tool, predicts that cash payments will remain for decades, but the emergence of digital payments “will lead to the death of the plastic card.” The report, which is the third installment in a series on payments by the group, points to economies […]
The post Deutsche Bank Report: Digital Yuan Could Upset Global Power Balance, Plastic Will Die, Cash Survive appeared first on Bitcoin News.
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