Expiry date with digital Yuan

Yugocean · Dec 11, 2022

China has revealed that CBDC (digital yuan) comes with expiry date, so people cannot save for any future use, they just have to spend it, and it will vanish after expiry date
Now the problem is? Will even a shopkeeper accept such money?

Sanjeev · Dec 11, 2022

I don't think any one would like to accept such currency.

Yugocean · Dec 11, 2022

Sanjee said:
I don't think any one would like to accept such currency.

And that is also increasing economic problem in china.

fcbetting · Dec 11, 2022

Do they offer exchange for paper yuan?

Yugocean · Dec 12, 2022

fcbetting said:
Do they offer exchange for paper yuan?

In Bank might be , otherwise how it is going to work? Yuan is Yuan.

Golden9 · Dec 12, 2022

This policy would combat money laundering. People will also start avoiding savings and might increase investing instead.

Yugocean · Dec 12, 2022

Golden9 said:
This policy would combat money laundering. People will also start avoiding savings and might increase investing instead.

And who will accept such crypto that will vanish after deu date?

Shavkat · Dec 12, 2022

That is a weird scheme for China to do. It shows that they wanted to gain profit with the expiration date. That is how it works, but I will not use their currency. It is like phishing people and impose this new rule.

Yugocean · Dec 13, 2022

Shavkat said:
That is a weird scheme for China to do. It shows that they wanted to gain profit with the expiration date. That is how it works, but I will not use their currency. It is like phishing people and impose this new rule.

This rule was since last year, but unconfirmed, now there are some confirmation source, so digital yuan is a flop show.

cherry123 · Dec 13, 2022

Yugocean said:
China has revealed that CBDC (digital yuan) comes with expiry date, so people cannot save for any future use, they just have to spend it, and it will vanish after expiry date
Now the problem is? Will even a shopkeeper accept such money?

What a law? So you would just have money and you find out it has expired. So what happened next you throw it away?

Yugocean · Dec 14, 2022

cherry123 said:
What a law? So you would just have money and you find out it has expired. So what happened next you throw it away?

It will disappear, China already having public backlash.

LoukiaCharilaou · Dec 14, 2022

This is very strange. I haven't heard about that. I think that people will not accept such currency.

cherry123 · Dec 14, 2022

LoukiaCharilaou said:
This is very strange. I haven't heard about that. I think that people will not accept such currency.

If it will not favor them then no need for accepting that.

flower · Jan 16, 2023

This is really a funny development because I do not understand the reason why the government of China will attach expiring date to a digital money.

Expiry date with digital Yuan

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