Who will win the digital currency competition
All human age in ubiquitous digitization, internet, and other high tech eras
Inactivity, the bank sticks to the concept and appeared centuries ago. This is still one of the few industries that resist the transition to the world of numbers, replacing updates with purely cosmetic changes. But soon everything will change.
Digital Currency Race
Celestial decided not to draw fate by the beard: he began to prepare for the launch of the centralized cryptocurrency. The central calling system contradicts the method commonly called encryption. In fact, whatever it may be called, the important thing is that the new system can easily capture the financial markets of developing countries. In any case, in terms of the number of users, it is ahead of the rest.
At the same time, under bank pressure, US lawmakers are limiting similar initiatives for companies like Facebook. That is, like China, it’s about strangulation, not development aid. If the moment is missing and the celestial empire starts the system, the yuan will actually be number one in the world currency.
Many financial experts call it Libra The only chance to travel to China is to create a working digital currency that can encompass the world, especially developing countries. Instead, US authorities believe that Zuckerberg’s initiatives pose a threat to global financial stability.
Their core is that the two projects are similar, and the only is more flexible and scales well. If you have 2 billion users on Facebook and Libra tells you that many people are in demand, you should remember that China’s digital currency ecosystem has almost formed on top of Alipay, WeChat and more popular applications.
When the new system works, the army of users will count the actual number of users from 2 billion to 3 billion and will not make ambiguous calculations in the number of users statistics (it’s no secret that 1/3 of the account is forged and forgotten for a long time).
Chinese cryptocurrency is linked to the course Authorities are sometimes very stable unless authorities adjust interest rates against the dollar. After starting the system, the value of the Chinese currency will be several times higher, which will bring more users into the system.
If Americans do not give green light to launches now, the development of Libra will make China’s cryptocurrency yuan the most powerful world currency in virtually every country that is not the Fed. The first line is India, with a population of over one billion people. Many people can not use bank services here, and Chinese digital currency can give them one.
Libra still has reserved for a successful start-Facebook, WhatsApp and Instagram can easily serve users and maybe a major platform for the distribution of new currencies. In the meantime, partners are gradually leaving the project, Mastercard, Visa and other companies have already announced that they will only observe outside and not participate in the project.