News China's Central Bank Says its Digital Currency Is Ready

[Admin]

The People's Bank of China is ready to start rolling out the digital currency it's been working on since 2014.

China's Central Bank Says its Digital Currency Is Ready : Read more

 

[AnimeMania]

If you can't beat 'em, ban 'em. I wonder if this digital currency has a cryptomining component, because that wastes tons of natural resources while providing little benefit.

 

[Deleted member 1353997]

I don't really see how this "digital currency" is any different from having a bank account and transferring money to another person's bank account.

At the very least, it should be much less wasteful than cryptocurrency as they currently exist.

 

[bloodroses]

If you can't beat 'em, ban 'em. I wonder if this digital currency has a cryptomining component, because that wastes tons of natural resources while providing little benefit.

More than likely not in regards to cryptomining. My guess is it is similar to or based on Ripple; like what Japan has been doing.
https://cointelegraph.com/news/japan-13-banks-invest-in-sbis-ripple-powered-blockchain-payment-app

 

[Giroro]

"it'd not built completely on blockchain, though, because the PBOC wanted to ensure the currency had enough throughput to keep up with retail usage. "

Well, that, and because China's communist dictator needs his servers in the mix to be able to record every single transaction, in order to track and prosecute those who are unloyal to their great leader.

 

[manisharma11211]

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