Bank Of China Says Digital Yuan Will Not Cause Inflation | Crypto Craft

  • Bank Of China Says Digital Yuan Will Not Cause Inflation

    From cointelegraph.com

    The Bank of China’s secretive digital currency tests have led to tremendous curiosity among Chinese citizens. Recently, the bank responded with an official explanation of the proposed digital Yuan and how it would work. A bank representative confirmed on the China Central Television on April 19 that the new digital currency (also referred to as DC/EP, for “digital currency/electronic payment”) pilot test has been carried out in the cities of Shenzhen, Suzhou, Xiongan new area, Chengdu, and the future site of the winter Olympics. However the researcher stressed that these current tests do not imply that the ... (full story)

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TudorIoan
Apr 19, 2020 11:03pm
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Ultimately, inflation is not generated by the money. Inflation is a consequence of a slumping economy, not of money. A "different kind of money" can't stop the real economy from slumping just because they are digital or they come in limited supply

The Chinese are just fighting a war against the USD supremacy, so they spread all kind of nonsense.
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