Forwarded from 📡Guardians of Hong Kong
Virtual control: the agenda behind China’s new digital currency
Although no official launch date has been announced, China is intent on becoming the first large economy to introduce a digital currency, showcasing its position as the global leader in payments technology to the world at next year’s Winter Olympics.
China’s digital plan dovetails with broader ambitions for its currency as Beijing hopes the
technology will help promote the renminbi internationally and weaken the US dollar’s
supremacy.
China’s digital renminbi is a “central bank digital currency”, making it in some ways the
opposite of cryptocurrencies such as bitcoin. Its digital format enables the central bank to track all transactions at the individual level in real time. Beijing aims to use this feature to combat money laundering, corruption and the financing of “terrorism” at home by strengthening the already formidable surveillance powers of the ruling Communist party.
Source: Financial Time #Feb17
https://www.ft.com/content/7511809e-827e-4526-81ad-ae83f405f623#uk
#DigitalYuen #China #CBDC #DigitalRenminbi
Although no official launch date has been announced, China is intent on becoming the first large economy to introduce a digital currency, showcasing its position as the global leader in payments technology to the world at next year’s Winter Olympics.
China’s digital plan dovetails with broader ambitions for its currency as Beijing hopes the
technology will help promote the renminbi internationally and weaken the US dollar’s
supremacy.
China’s digital renminbi is a “central bank digital currency”, making it in some ways the
opposite of cryptocurrencies such as bitcoin. Its digital format enables the central bank to track all transactions at the individual level in real time. Beijing aims to use this feature to combat money laundering, corruption and the financing of “terrorism” at home by strengthening the already formidable surveillance powers of the ruling Communist party.
Source: Financial Time #Feb17
https://www.ft.com/content/7511809e-827e-4526-81ad-ae83f405f623#uk
#DigitalYuen #China #CBDC #DigitalRenminbi
Forwarded from Steve Cioccolanti 🇦🇺🇺🇸 Discover Church
💵 Why Central Banks LOVE China 🇨🇳 The Digital Dollar Depends on One Thing
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Digital Bill of Rights vs Digital Dollar 💵 Why Central Banks LOVE China 🇨🇳
🍀 💵 🍀 What you need to know about the central bank’s plans for the death of the dollar, #cryptocurrency and a new #CBDC (central bank digital currency). Share this timely word by Pastor Steve Cioccolanti with your friends. Learn about the DIGITAL BILL OF…