RATE Group | Digital Yuan is not like Bitcoin and Ethereum
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Digital Yuan is not like Bitcoin and Ethereum

24 Dec Digital Yuan is not like Bitcoin and Ethereum

Posted at 07:30h in Ethereum News by

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  • The deputy director of the Central Bank of China, Mu Changchun, has announced in an interview that the digital yuan will be significantly different from Bitcoin and also Stablecoins.
  • The pilot program to test the digital yuan is expected to start earlier than expected by the end of this year.

The Chinese news agency South China Morning Post reported two days ago about new advances that the digital Yúan has over other cryptocurrencies. The head of the PBoC’s research centre explained that the digital yuan will be significantly different from Bitcoin, Ethereum and other Stablecoins.

Digital Yuan not suitable for speculation and therefore fundamentally different from Bitcoin

The digital yuan is not suitable for speculation and does not get its value from a broad basket of currencies as is the case with Facebook Libra, for example. The deputy director of the People’s Bank of China (PBoC), Mu Changchun, explained:

The currency…

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