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23 April 2021

Bitcoin Is Helping the Digital Yuan Move Forward | Live Bitcoin News

Bitcoin Is Helping the Digital Yuan Move Forward | Live Bitcoin News


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However, the interest in BTC is also stirring interest in other forms of crypto such as the digital yuan.

The digital yuan initially opened to mixed thoughts in the sense that as a centralized currency – in other words, a form of money issued by a bank – it goes against the very notions that made bitcoin and several other cryptocurrencies so popular.

The goal of bitcoin and other decentralized forms of currency was to give financial independence back to the people, but a centralized currency works against this, and the fact that it is digitized seems like a big slap in the face to many analysts.

are all exploring the possibilities of issuing centralized digital currencies through their banks, which could threaten the status of bitcoin and other mainstream forms of crypto.

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