China to Launch Bitcoin Substitute to Combat Illegal Gambling

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arbusers
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China to Launch Bitcoin Substitute to Combat Illegal Gambling
« on: November 20, 2019, 12:03:06 PM »

The People’s Bank of China (PBoC) may launch its own digital currency in the next 18 months, the world’s first state-backed cryptocurrency ''Digital Currency Electronic Payment'' (DCEP). Among other aims, DCEP is designed to combat illegal online gambling, a real scourge for China. Chinese is the most gambling-addicted nation on the planet, studies have shown.
DCEP is about to include functions that will allow government authorities to track suspect payments and thus purge money laundering, tax evasion, and online gambling. It remains to be seen which governments will have access to this kind of information, but this will be determined by the infiltration of the new currency to several markets and countries.
We can only assume, DCEP will trigger a war among several governments who will also try to get part of the pie. However, it is the market and the users who will decide who stays and who goes. So far, the market has not shown any signs of accepting control, no matter how elegant words are.
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arbusers
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Re: China to Launch Bitcoin Substitute to Combat Illegal Gambling
« Reply #1 on: November 20, 2019, 12:21:07 PM »

A more detailed article will be published in our portal soon.
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ilovethisforum
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Re: China to Launch Bitcoin Substitute to Combat Illegal Gambling
« Reply #2 on: November 21, 2019, 12:11:39 AM »

Good luck to the Chinese people. This dictator has also introduce a new social scoring system. Chinese people are getting points if they do 3 things:
1) Visit their parents
2) Say good words for the Communist Party
3) Do good actions(help a dog, pass the grandma from road etc)

They lose points if they are not doing these or doing the opposite. It is like science fiction film, but it is happening.
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sadedu95
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Re: China to Launch Bitcoin Substitute to Combat Illegal Gambling
« Reply #3 on: November 21, 2019, 01:32:26 AM »

Good luck to the Chinese people. This dictator has also introduce a new social scoring system. Chinese people are getting points if they do 3 things:
1) Visit their parents
2) Say good words for the Communist Party
3) Do good actions(help a dog, pass the grandma from road etc)

They lose points if they are not doing these or doing the opposite. It is like science fiction film, but it is happening.

What about the good luck to the 300 million chinise people that have moved into the middle class in the last 30 years. You think its much better here, my friend look at something called the Snooper Charter.
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VidaBlue
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Re: China to Launch Bitcoin Substitute to Combat Illegal Gambling
« Reply #4 on: November 21, 2019, 08:32:04 AM »

The digital age is amazing, but during this euphoria, people are starting to realize some of the negative effects as well. Social media that makes you less social. Increased number of monetary systems in the digital space that leads to increased cases of money laundering and fraud. Many information sources having a negative impact on students ability to focus.

There currently seems to be some counter reactions to all this. People proudly seeking to become more offline.

As for betting, maybe this counter reaction will be seen as well. Bettors wanting to bet real assets while interacting with real people. I definitely think shop betting, offline betting, will prevail and grow due to some of those reasons.
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Wolfie
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Re: China to Launch Bitcoin Substitute to Combat Illegal Gambling
« Reply #5 on: November 21, 2019, 09:26:46 AM »

Yes a lot of bookies will use cryptoyuan but at same time a lot of bookies are already using bitcoin, ethereum, ripple. So i think it will be the same. At this point i think differently @VidaBlue the online sphere will flourish. And shop betting slowly will disappear. Even in US i think very soon we will see online betting.
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