Hey Everyone, welcomes to My blog Crypto Times and Hopes you Guys are doing Absolutely good. This Article on China's Digital Currency Yuan launch.
Before We Started This Article First Understand About The China & USA and Cold War
USA
The United state of America is located in North America and the most powerful Nation in World in terms of the Economic and Military Area. The Currency of the USA is known as the US Dollar and used all over the World.
China
China is located in Asia and Powerful Nation in Asia in terms of Economic as well as Power. The Emerging Economy and China Belt initiation create Tension for America. The intervention of China in the Indian Ocean, Near Japan and Singapore, creates problems for the neighboring nations of China like Japan, Taiwan, India, Australia etc. And The policy of China makes problems for the Sovereignty of other nations.
US-China cold War
Today China is the big competitor of the USA in trade, economy, weapon, pharmaceutical industry etc. One year Before the US increased the trade tax on Chinese items, then China also increased the tax on trade which was the initial phase of the Cold war. The US tries to stop China by supporting neighboring nations like Japan, India, Taiwan and Australia. China is now promoting its Digital Currency Yuan against the US dollar.
Digital Currency Yuan
China is the global leader in the Manufacturing Industry, Now China has launched its own Digital Currency Yuan. Digital Currency Electronic Payment (DC/EP) is a digital version of the Yuan and Backed by the physical Currency Yuan deposit in the Central Bank of China.
The motto of Digital Yuan is the two Reason:
1. De- Dollarization of US Currency
2. Controlled and Track the Flow of Yuan
How To Buy Digital Currency
Digital Currency is launching on 6 April.
The Value of Digital Currency.
1 Digital Yuan = $0.03
Way to Buy
YuanPay is the Legal organization for the Management of Cryptocurrency in China. (Link in the Comment Section)
Problem For US Dollar, Bitcoin and Other Nations
1. US Dollar
Today the US Dollar is the Global Currency of the World and used by all of the Country as well as the World Bank. But the Process of Loan from the World Bank is so Hectic which makes a good opportunity for China, So the Flow of the Digital Yuan is Easy by providing Loan to other Nations. And the Sanctions policy of the US also creates an opportunity for China to make its Digital currency like the US.
2. Bitcoin
The Digital yuan is Backed by the Central Government but Bitcoin is not backed by anything, The Value of Bitcoin is just Depend on Supply and Demand.
3. Other Nations
Mostly Neighbor nation of China is under the tension that if the Digital Yuan became the Global Currency by replacing US Dollar create Geographical Disturbance in ASIA and Africa
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