Peoples Bank of China Announces their own Digital Currency - Simon Dixon discusses
Nothing in this content should be treated as tax, legal, investment or financial advice. Full details here: https://www.retirementplanb.com/disclaimers
Simon Dixon discusses the breaking news that did not catch the attention of the monetary reform community.
Here was the reaction from the Bitcoin Community:
http://cointelegraph.com/news/survey-of-experts-chinas-digital-currency-vs-decentralized-bitcoin
There was no reaction from the Monetary Reform community even though they just got the most significant reform announcement in decades.
Here is the announcement from Reuters:
China's central bank plans to launch its own digital currencies
China's central bank wants to launch its own digital currencies to cut the costs of circulating traditional paper money and boost policymakers' control of money supply, the People's Bank of China (PBOC) said on Wednesday.
A PBOC research team set up in 2014 to look into digital currencies should make preparations for launches, according to a central bank statement posted on www.pbc.gov.cn.
"The team ... should set up a clearer strategic target for launching digital currencies, overcome the key technological barriers ... and aim for an early launch of the central bank's digital currencies," the PBOC said.
Virtual currencies can also help boost transparency of economic activities and curb money laundering and tax evasions, it added.
One of the most popular digital currencies is bitcoin, which is created through a 'mining' process where a computer's resources are used to perform millions of calculations.
But the rise of bitcoin, which is unregulated in many countries, has stoked concerns it can be used as a vehicle to launder money and finance extremist groups.
-
57:30
Simon Dixon
4 months ago🇺🇸 US Oil, Energy & Bitcoin Mining | #BitcoinHardTalk Ep. 31
168 -
35:04
Power Slap
7 days agoPower Slap: Road to the Title - Season 3 Episode 9 - Bring Out That Monster
753K101 -
15:52
Scammer Payback
1 month agoScammers Located in this Apartment
114K58 -
10:41
Breaking Points
3 days agoARSON, 'FREAK OFFS', LUBE: Diddy Indictment SHOCKING DETAILS
71.1K35 -
45:44
hickok45
12 hours agoSunday Shoot-a-Round # 247
42.9K50 -
3:34
Cooking with Gruel
1 day agoBrown Butter Deviled Eggs
45.8K10 -
11:06
Bearing
8 hours agoThe Office 2024 Australian Reboot Looks GARBAGE
43.7K16 -
28:21
Lloyd And Mandy
12 hours agoThe INCREDIBLE Hack Every Online Business Owner MUST KNOW In 2024..
49.5K3 -
0:51
scoutthedoggie
1 day agoWhat's in your Northeast UZI Rob?
42.6K2 -
12:49
Misha Petrov
21 hours agoI Triggered The Furries…
70.3K70