Cryptocurrency Q&A
What is the Chinese government crypto?
What is the Chinese government crypto?
DondaejiDelight
Tue Oct 29 2024
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7 answers
1883
The Chinese government crypto refers to the digital currency issued by the People's Bank of China, which is also known as the Digital Currency Electronic Payment (DCEP). It is the first national digital currency in the world that uses blockchain technology and is legally recognized. The Chinese government aims to promote the internationalization of the yuan and enhance its control over the currency through the implementation of DCEP.
7 answers
Giuseppe
Thu Oct 31 2024
China's cryptocurrency, known as e-CNY, functions within a two-tiered operational framework.
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Dario
Thu Oct 31 2024
These institutions distribute the digital currency issued by the PBOC to the broader public.
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JejuSunshineSoul
Thu Oct 31 2024
At the apex of this system stands the People's Bank of China (PBOC), playing a pivotal role.
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CryptoVisionary
Thu Oct 31 2024
The PBOC is responsible for issuing the digital currency, which forms the foundation of e-CNY's circulation.
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Carlo
Thu Oct 31 2024
Below the PBOC, second-tier commercial banks and payment providers serve as crucial intermediaries.
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