China's Digital Yuan Launches e-CNY App for International Users

By Novasky | DevPress | 19 Mar 2024


China has been maintaining it's two time approach to crypto. At first place they are also encouraging their own exchanges in other nations. And then they are only allowing their own CBDC in their own soil. So that way they are preserving their own economic model. And now they want to trap more international users into the usage of the Chinese Yuan. 

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You can buy your own digital yuan using the app. You can download the app from the google play. You can then use the variety of ways to buy the yuan and then hold that money into the wallet. This would be possible with the crypto too. In case of the buying of the digital yuan using crypto that would open up for international users too. 

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Is it right move to buy Digital Yuan? Like British empire, china too has the way to enslave the nations by using the loan and forcing the money power. Just like how US dominated the world using the USD in everything, china too wants to do that. Unlike other countries in asia, china is a deceptive nation and you can't rely on it. So buying their currency is bad for your own nations currency as it devalues yours. 

Holding crypto is just fine. I don't have any bias or leaning towards the chinese Yuan, in fact I find them more scary considering no other nation has run the loan scams like the china in the past and the current times. So in that context I would say it is reasonable to say that this move may be good for china but bad for the international users. 

Rest is upto you on how you wish to use their CBDC, if you are a traveller then yes this may be of a use. 

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Novasky
Novasky

Crypto Blogger and Open Source Developer.


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