What Does The Digital Yuan Mean For Bitcoin?

"While the digital yuan has the backing of the PBOC, there are several ways in which it cannot complete, technically, with bitcoin."

Written by Judy Smith.

https://bitcoinmagazine.com/articles/what-does-the-digital-yuan-mean-for-bitcoin

What Does The Digital Yuan Mean For Bitcoin?

The forthcoming introduction of a digital yuan in China is the latest in the ongoing battle between fiat currencies and bitcoin.

Bitcoin Magazine

@bitcoinmagazine

This "digital yuan" (AKA Digital RMB, AKA DCEP, AKA CBDC) is nothing like an electronic alternative to cash.

To-date, these trials have been more like prepaid funds that can be spent only at a limited set of retailers, & definitely cannot be deposited/converted to cash, or sold, or transferred as a gift even.

#Bitcoin  #China #DCEP #CBDC #DigitalRMB #DigitalYuan #Yuan #PBOC #P2P #OTC #RMB #CNY $RMB $CNY