Probably to move crypto to the masses, we have to agree to kyc finally. With all regulations coming, it looks like its the best way. Im confused about the Chinese digital yuan. When it expires, does it mean you have lost your money?
Probably to move crypto to the masses, we have to agree to kyc finally. With all regulations coming, it looks like its the best way. Im confused about the Chinese digital yuan. When it expires, does it mean you have lost your money?
Not necessarily. If people would start using crypto in exchanges between themselves that would be a good start.
Regarding the digital yuan expiration date, I have no clue how it's going to work. I guess it will be something like 1-3 months, nothing spectacular.
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There may not be a set expiration date for Digital Yuan. The date could be determined by factors such as the overall state of the economy, one's regular credit score, or one's social credit score.
In most cases, there may not even be an expiration date on the money. But it can be set any any time for any duration. This is the defining characteristic of programmable money in the context of a CBDC.
In nations which employ negative interest rates-- ???-- money in banks accounts already disappears. Once CBDC-style programmable money goes online, it will be even easier for that money to disappear.
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