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Community Champion

China builds a new digital currency?

OK, Facebook's attempt at a digital currency, Libra, seems to have sparked China into springing forward with it's own plans.

 

If China goes with this, could it end up getting a jump on the digital currency "market" (you should pardon the expression)?

 

Remembering that part of the deal is that China gets to know every transaction?  (Controllable anonymity?  What the heck is that?  Who controls it?)

 

But also that most people really don't think risks through when they see a new opportunity to buy stuff quickly?


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4 Replies
Community Champion

Re: China builds a new digital currency?

@rsladeInteresting piece on China, but who would trust them?  Yes, it could have a detrimental affect on the US Dollar, and cause a lot of introspection on how banking is conducted down.  There are sufficient Chinese citizens around the world to cause a major hiccup.

 

Regards

 

Caute_cautim

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Community Champion

Re: China builds a new digital currency?


@Caute_cautim wrote:

@rsladeInteresting piece on China, but who would trust them? ..


Well, heck-fire! For my money, China is just as trustworthy as FakeBook!

 

Craig

 

Dr. D. Cragin Shelton, CISSP
Dr.Cragin@iCloud.com
https://CraginS.blogspot.com/
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Community Champion

Re: China builds a new digital currency?

@CraginSI think some of us, have experienced some interesting insightful situations throughout our lives, and we have to do a double take, to ensure there has not been a sudden U-turn.   A wonderful thing experience over time.

 

Regards

 

Caute_cautim

Community Champion

Re: China builds a new digital currency?

> CraginS (Advocate II) posted a new reply in Industry News on 01-14-2020 04:03 PM

> Well, heck-fire! For my money, China is just as trustworthy as
> FakeBook!

I'm sure that attitude is very Libra-ating.

====================== (quote inserted randomly by Pegasus Mailer)
rslade@vcn.bc.ca slade@victoria.tc.ca rslade@computercrime.org
Belief is no substitute for arithmetic. - Henry Spencer.
victoria.tc.ca/techrev/rms.htm http://twitter.com/rslade
http://blogs.securiteam.com/index.php/archives/author/p1/
https://is.gd/RotlWB

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