Edith Yeung of Proof of Capital says the Chinese government has been “really thoughtful” about the digital currency electronic payment framework and its rollout. She says it will “definitely” be deployed within the next six to 12 months.
China’s virtual currency may be rolled out within a year: Proof of Capital | East Tech West
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Backed by gold or Social Credit score? No thanks…
@Devesh Bhosale sorry man .. the USD are no longer backed by gold .. that gold has long gone ..
You guys couldn’t convince Russia to accept your currency for trade.. your fav ally apart from n Korea and Pakistan. But want to create a buzz about your currency! No thanks
@Devesh Bhosale Sure useless , but the world is buying from China and even Indians are buying massively from China ..
Even your Indian religious toys are imported from China .
Good luck .. if you have nothing to use to pray .
Anyway it is obvious you know nuts about economics and real politics.
Find out why India is 6 times smaller than China ….then come and debate with adults.
@Alan Foo feel sad for the founder of selfie stick… and thousands other devices which you Chinese conveniently stole.
@Devesh Bhosale rubbish
China should pass a law all Chinese products and services are only available in Yuan …. simple .
No country can afford to not use Yuan instead of the dollar and China gets all banks in the world to use China
‘s version of SWIFT ….
This is possible if exporters and importers around the world deals only in Yuan
She’s smart. America grows by printing, borrowing and scamming money, war, corruption, bigotry, bias, bad, bully, bad-mouth, bash, beat, burn n bomb, go no where but down down down.
Is China copying US?
First the monopoly money RMB and now the virtual currency, that goes to show you CHINA is cheating, lying country. Electronic payment system is just their money laundering service.
@陳Bruce you missed the point.
@Tazangamoz – Totally. Point out those I miss & I’ll get them.
Tazangamoz are you really intelligent deficient?
@陳Bruce totally agree with you Bruce
Point it out to us
I can make some points
American is bombing, stealing and lying shall we trust them?
@kevin chen – How do u trust a serial thief/pirate, serial liar/hypocrite &/or serial bomber/murderer? In addition this “pirate” like to frame itself as a “hero/police” of freedom/justice. Its just too risky/dangerous (unless u have free access to > Тип 1 tools/technology).
Virtual currency will not succeed. It is high risk and impossible to claim. It isn’t bank standard and may only be used by a few entity. China is trying to ditch the dollar, china will fail miserably. Go ahead buy only bitcoins/crypto. You will regret beyond believe
You know what you sound like? A dinosaur haha get with the times and stop living in the past
Dumbest post on here.
How true, china is built by engineers while the rogue state is built by lawyers, I was waiting for someone to tell me all this while that it is indeed that capitol hill is infested by these good for nothing guys
So the lawyers in US are like the mullahs or imams of the Caliphate?
@陳Bruce we corroborate with ms yang
@Chang chun kit – What about the lawyers? If they are good-for-nothing then they are no better than mullahs, Fengshui gurus or psychic mediums yes?
Really? I want early access
China’s virtual currency needs to be backed by phyical gold and not backed by any fiat money, i wonder how much gold china have hoarded.
China’s gold reserves are over 20,000 Troy tons.
@Ken Rose should be more, they never declare those mined in China
Francis Li Beijing must have a plan for it, no worries.🤪
I read more like 30k tons….. Largest producer for years, they don’t export any
America bullies for benefit. China trades for mutual benefit.
Yea, like HK and Xinjiang and Taiwan. “Mutual” interest? No way the CCP even understands that word.
Rof Lhard keep saying that, imbecile 傻～～逼
@Rof Lhard You will never understand. you Anti-China bot.
Lol.Laughable comment.
China trade to bully.
This is nothing but a chinese communist party scam. Just like the one belt one road is a ccp military scam and it’s not working, this virtual currency won’t work either. This scam will not work because none of the poor countries the ccp so far coned into one belt project have the technical know how to build, manage and secure a new virtual financial systems that they will need to interact with the ccp’s system. This is a scam for the ccp to launder money. Btw, fun fact, when Pakistan signed the $60 Billion one belt project with china in 2014, not one penny ever enter Pakistan’s central bank. All $60B went to chinese contractors’s bank in china. Thank you CNBC for exposing this scam.
Only stupid people would exchange their real money for China’s fake digital number. China tries to pull foreign countries money to save China economy, big lost from the One Road One Belt. US is built by engineers and lawyers, whereas China is built by lairs and stealers.
It really does not matter if gold backs it, nor if ordinary people believe it, as long as China’s trading partners are willing to trade in crytocurrency instead of USD.
Blockchain of what??? Bitcoin? Bitcoins are shitcoins
We’re going to trust an authoritarian regime and their phony currency? Don’t think we’re that stupid yet.
But we should trust the war machine, the fed??
You don’t have to trust them. But you won’t be able to sanction them by not allowing money to go thru SWIFT. Sanctions have been over used, now countries don’t like petro dollar.
The US is the bully in the world bombing countries killing hundreds of thousands every year with their weapons.
You had no trouble trusting the most belligerent country in human history when they used their currency as world’s reserve currency even though it was backed by nothing but empty words of “trust” and much less empty military threats, but now you have your doubts following another country’s currency on the basis of China being a so-called “authoritarian regime” (where they hold elections every 5 years, for the record)?
Ancient wisdom, passed down from generation to generation for millennia, says that you need to use the right organ for the right thing. The backside is for defecating, the heart is for feeling emotions, the mouth is for communicating verbally and the brain is for thinking.
If you think with your heart and feel with your brain, you will talk out of your a** and s**t from your mouth.
So say the wise ones.
I almost choked myself when I was listening to this lady.
Who cares about the US! They are beligerant bullies!
Goodbye USD
USA was built by engineers once upon a time.
I think it was Democracy.
China is communism.
Good bye US dollar, good bye US power.
No monopoly anymore. Competition will bring good products with cheap price! Thanks for Huawei making iPhone cheaper now.
US improved his technology of hatefull far away from China.
China is built by engineers, US by lawyers. Well put.
Not communist party?
She is kidding, the Chinese have at least 16% of the world economy and yet the dollar is still the main currency and Chinese Juan like 1% (1% trade transactions are made in Juan). What makes you think that the Chinese virtual blockchain currency will change it?
You will never know. Things happen very fast nowadays. China just wants to avoid the consequences if US is going to sanction China.
Other countries are already looking to bypass the dollar thanks,in part,to Trump. It is now inevitable.
I think CNBC is the least bias out of the US news medias.
USA built with liars!
Same with China.
Meanwhile Trump is diddling around with coal.
It’s about time America will be slave to the world.
OMG
You are just sad man.
It’s 2020 and you want people to be slave.
Not cool man.
i cannot believe our ¥ can challenge $ now
China rise like dragon
End the Ferderal Reserve!!!!
criminals are crying and shitting his their pants