$ 53,162
$ 3,447.1
$ 1.080

A digital yuan: China is moving towards electronic currency


Under the heading above, Ndigda Verdina wrote, in “Argumente e Facti”, about walking the path of using a cryptocurrency in China and other countries, facilitating state monitoring of money transfer and seizure.

The article states: Central banks around the world are experimenting with launching digital currencies. In the Netherlands, for example, they are ready to develop the digital euro; And in Sweden, they are testing e-krona; And in China, in order to experiment with using the digital currency, the money is distributed to the local population. Chinese media have reported that the authorities will distribute about $ 1.5 million to 50,000 Beijing residents. Each of the participants in the experiment will get 200 digital yuan, which he can spend in stores (specified by the authorities), not only in Internet stores, but also in ordinary stores that are not connected to the Internet.

In this regard, the President of the Russian-Asian Federation of Industrialists and Entrepreneurs, Vitaly Mankevich, told “Argumente e Facti”: “The digital yuan is a state-owned cryptocurrency. However, unlike Bitcoin, any state cryptocurrency, whether it is the digital yuan or the digital ruble, Deprive the user of the benefits and transfer them all to the state. What are the advantages of Bitcoin: Restrictions on the mathematical algorithm and the ability to track transactions? The state will be able to mint as many cryptocurrencies as it wants, and will monitor all transactions. What follows from that? It will be easier to receive taxes Track the sources of financing unwanted activities (terrorism, extremism, and rejected political activities), and separate any unwanted elements of the system from the financial system with the touch of one finger. “

Russia also wants to create its own electronic currency. As the head of the Russian Central Bank, Elvira Nabiullina, has said, a pilot project for the digital ruble could be launched by the end of 2021.

According to Vitaly Mankiewicz, the introduction of the digital currency will coincide with granting benefits to its users, in both China and Russia, so that residents become accustomed to its use.

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