Could a Chinese Stablecoin bring Crypto to a Billion New Users?

2018-10-14 23:57

While the Chinese government has not actually passed any legislation regarding cryptocurrency, Regulators have set some pretty harsh restrictions such as a total ICO ban and severe restrictions on cryptocurrency exchanges and other platforms designed to propagate the use of cryptocurrencies.

Maybe now the Chinese government is searching for blockchain and cryptocurrency related experts. The People’s Bank of China is the country’s central bank and it controls the money supply and interest rate.  

The PBOC has posted a notice on their website that they are looking to hire engineers with cryptocurrency experience and economic legal experts as they possibly embark on the creation of a Chinese yuan backed stables coin.  

On October 9th, CN Fincance, a finance magazine owned by the PBOC, published an op-ed by Li Liangsong that asserted that China should develope its own stablecoin that is back led by the Chinese Yuan.

Liangsong is a researcher and finance expert for the PBOC and provides a strong argument for the adoption of a yuan backed stablecoin.  He says that the existence other stable coins around the world could wind up hurting the value of money in the home land and that China can build on what’s already been explored.

“If the U.S. dollar-pegged stablecoins can eventually be widely recognized by the market and can prove their use in the real economy, we should double down on our research efforts and learn from relevant experience to support domestic institutions to issue yuan-pegged crypto stablecoins.”

As China shows a willingness to move forward with blockchain technology and the use of digital currencies, it opens up a possible base of users that is over 1 billion strong.  With recent rumors of Baidu, “the Chinese Google” partnering with Tron and the creation of a yuan backed digital asset, maybe the Chinese government is beginning to open the floodgates for cryptocurrency adoption.  

The post Could a Chinese Stablecoin bring Crypto to a Billion New Users? appeared first on ZyCrypto.

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chinese cryptocurrency restrictions could government billion stablecoin

Источник: zycrypto.com

chinese cryptocurrency → Результатов: 126


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Economics In recent Chinese cryptocurrency news: a prominent scholar has advocated that China adopt a permissive regulatory apparatus, drawing influence from Japanese and U.S. legislation. Research conducted by the International Monetary Institute at Renmin University of China has estimated that the number of Chinese bitcoin investors exceeds 3 million, and an audio recording of famed

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China Round-Up: Permissive Regulations Advocated, 3 Million Chinese HODLers, Xiaolai Recording Leaks

In recent Chinese cryptocurrency news: a prominent scholar has advocated that China adopt a permissive regulatory apparatus, drawing influence from Japanese and U.S. legislation. Research conducted by the International Monetary Institute at Renmin University of China has estimated that the number of Chinese bitcoin investors exceeds 3 million, and an audio recording of famed bitcoin […] The post China Round-Up: Permissive Regulations Advocated, 3 Million Chinese HODLers, Xiaolai Recording Leaks appeared first on Bitcoin News.

2018-7-7 03:25


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China Round-Up: Scholar Advocates Permissive Regulations, 3 Million Estimated Chinese HODLers, Xiaolai Recording Leaks

In recent Chinese cryptocurrency news: a prominent scholar has advocated that China adopt a permissive regulatory apparatus, drawing influence from Japanese and U.S. legislation. Research conducted by the International Monetary Institute at Renmin University of China has estimated that the number of Chinese bitcoin investors exceeds 3 million, and an audio recording of famed bitcoin […] The post China Round-Up: Scholar Advocates Permissive Regulations, 3 Million Estimated Chinese HODLers, Xiaolai Recording Leaks appeared first on Bitcoin News.

2018-7-7 03:25


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2018-6-25 13:00


EOS Ranked 1st, Bitcoin 17th in China’s Updated Crypto Ratings

China has released the second edition of its state-endorsed cryptocurrency and Blockchain ratings, placing Chinese altcoin EOS top of the list and Bitcoin 17th. EOS, Ethereum And NEO Win Official Favor Round two of the Global Public Chain Technology Evaluation Index, published by the China Center for Information Industry Development (CCID) under China’s culture ministry June 20, follows the initial launch of the ratings series in May.

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Billionaire Ethereum Creator Bullish on Chinese Blockchain Projects Qtum and VeChain

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Craig Wrigh Directed as Satoshi in Chinese University Textbook

News According to reports a Chinese economics textbook that’s used in some of China’s leading universities states that the notorious Dr. Craig Wright is Satoshi Nakamoto, the creator of Bitcoin. The university textbook authored by Frederic Mishkin calls Wright an “Australian geek” who invented the cryptocurrency bitcoin almost ten years ago. Also Read: “I Am the

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