65% of Americans oppose the digital dollar concept
Most Americans negatively react to the idea of the U.S. authorities issuing a digital dollar. That's the conclusion reached by researchers who polled 2,000 people.
The world witnessed the emergence of a new type of payment technology, i.e., cryptocurrencies. Relying on decentralization and anonymity, cryptocurrencies started to gain popularity in different countries as a means of secret payment transactions, including illegal activities. As a response, central banks of many countries started to develop their own versions of this technology, namely, central bank digital currencies. Soon, they will replace the altcoins and stablecoins we are already familiar with.
Less than a decade ago, China actively opposed all types of cryptocurrencies and their mining. Even today, Chinese President Xi Jinping mentioned blockchain technology in his speech and called for accelerating the development of other core technologies in this area. Somewhat later, the Chinese media reported testing a new Chinese cryptocurrency that could challenge the global dominance of the U.S. dollar.
The exact number of transactions made on that day is not reported. However, when choosing to pay by Visa card, cash, or digital yuan, competitors mostly chose the latter.
Every year, cryptocurrencies are becoming more and more popular as a means of payment, trade, and investment. This is evident from the growth in the number of new digital coins, reaching close to 17 thousand as of today and still increasing. In this article, we will tell you what cryptocurrency is, its main types, pros and cons.
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