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Binance onboards fiat partners for Euro withdrawals and deposits, Coin Metrics raises $6.7M

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Binance, the world’s largest cryptocurrency exchange by trading volume, has announced new partnerships with fiat payment providers to enable its users to withdraw and deposit euros seamlessly. This comes after Binance’s previous partner, Paysafe, decided to terminate its relationship with the exchange in October.

According to a blog post published by Binance on Wednesday, the exchange has integrated with two European payment processors, Clear Junction and Koinal, to offer fast and secure euro transactions for its customers. Users can now link their bank accounts to Binance and use SEPA (Single Euro Payments Area) transfers to move funds between the platforms. The service is available in 36 countries across Europe, including Germany, France, Italy, Spain and the Netherlands.

Binance said that the new fiat partners will help it expand its reach and accessibility in the European market, where it has seen a significant growth in demand for crypto services. The exchange also claimed that it offers the lowest fees for euro transactions among its competitors, charging only 0.1% for deposits and withdrawals.

Binance’s CEO Changpeng Zhao (CZ) commented on the announcement, saying: “We are always looking for ways to lower the barriers to entry for our users and make crypto more inclusive for everyone. By partnering with Clear Junction and Koinal, we are providing more options and convenience for our European users to access the Binance ecosystem.”

The move follows Binance’s separation from Paysafe, a leading online payment provider that owns Skrill and Neteller, two popular e-wallets used by many crypto traders. Paysafe announced in October that it would stop processing payments for Binance due to regulatory concerns, as the exchange faced increased scrutiny from authorities around the world.

Binance has been trying to improve its compliance and regulatory status in recent months, hiring former regulators and experts to lead its legal and policy teams. The exchange has also applied for licenses in several jurisdictions, such as Singapore, Malta and the UK, where it hopes to resume its operations soon.

According to various sources , Binance is one of the most popular and trusted platforms for trading cryptocurrencies, offering a wide range of features, such as spot trading, futures trading, margin trading, staking, lending, savings, mining pool, launchpad, launchpool, liquid swap, Binance Smart Chain, Binance Card, Binance Pay and more. Binance also supports over 300 cryptocurrencies and tokens, including its own native coin BNB, which can be used to pay for fees at a discounted rate.

Binance has a high liquidity and trading volume, making it easy for users to execute their orders quickly and efficiently. Binance also has a user-friendly interface and mobile app, as well as a dedicated customer support team.

Coin Metrics, a leading provider of crypto data and analytics, announced today that it has raised $6.7 million in a new funding round led by a new investor. The company did not disclose the name of the investor but said that it was a “global financial institution” that shares its vision of building a more transparent and efficient crypto ecosystem.

The new funding will help Coin Metrics expand its product offerings, grow its team, and accelerate its global expansion. Coin Metrics provides data and insights on various aspects of the crypto market, such as network health, market behavior, risk, and valuation. The company also offers enterprise-grade data solutions for institutional clients, such as index providers, exchanges, custodians, and funds.

Coin Metrics was founded in 2017 by a group of crypto enthusiasts who wanted to create a more reliable and comprehensive source of data for the emerging industry. Since then, the company has grown to become one of the most trusted and respected names in the space, with a client base that includes Fidelity Investments, Coinbase, Bitstamp, BlockFi, and many others.

Coin Metrics co-founder and CEO Tim Rice said in a statement: “We are thrilled to welcome our new investor and partner to the Coin Metrics family. This investment validates our vision and the progress we have made in building the most trusted data and analytics platform for the crypto industry. We look forward to working together to further our mission of bringing greater transparency and efficiency to the crypto ecosystem.”

The new funding round follows a $15 million Series Around that Coin Metrics closed in May 2020, which was led by Goldman Sachs and included participation from Castle Island Ventures, Highland Capital Partners, Avon Ventures, Communitas Capital, and Collab Currency.

Are Care Works for PhD Holders? The Big Conversation Continues on Tekedia Platform

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Since the publication of our piece titled “Why a PhD Holder Shouldn’t Settle for a Care Worker Role” on the Tekedia platform, our dedicated analyst has been touched by the flood of heartfelt comments and deeply moving personal conversations that have followed. Published on October 24, 2023, this piece has not just been read; it has resonated with readers all around the globe, and its impact is profound. To date, it has touched the hearts and minds of over 12,000 readers, stretching across continents, with Africa, especially South Africa, Nigeria, and Uganda, as well as the UK and other parts of the Global South, coming together to engage in this significant conversation.

Our analyst has been moved by the passion and concern expressed by our readers, reaffirming Tekedia’s and Infoprations’ unwavering commitment to building a community where every individual can thrive, regardless of age, gender, socioeconomic status, or political affiliations. It’s about understanding one’s unique place in the world, and this piece has genuinely struck a chord.

As we pen this update, we can’t help but feel a surge of hope and inspiration. One of our readers is on the brink of securing a role in the UK that truly befits a PhD holder. This is more than just a story; it’s a testament to the power of heartfelt discussions and the potential to inspire real change in people’s lives. It’s a moment to cherish, and we’re grateful to be part of this emotional journey with you all.

The Big Conversation

Commenter 1: Permit me to say this, Nigeria is a country that doesn’t ascribe value to hard work or merit. My true-life story for example, upon my attainment of PhD in 2017 and as a Primary school teacher under Lagos SUBEB, I had opportunity to a FGN mission to serve as a volunteer lecturer in an African country University. It was a fixed term of 2 years (2018-2020). Upon my return, I have been having very nasty experience as an officer now at SUBEB headquarters. The treatment has been so frustrating that if I have another opportunity to check out, under any work status, I will be so glad. At the Board, all my efforts to be considered into the department of my field of study were to no avail. I have been underutilized and it’s really depressing. Nigeria government should please place value on merit and only on political connection.

Commenter 2: If you have what it takes, then no whining. Just do it.

Commenter 3: That is the way it is in Nigeria. We need a national leader who places high value on intellectual hard work and innovation.

Commenter 3: This is an inspiring peace of art. PhD holders have committed a lot of resources in research and teaching. They should use the knowledge gained in particular field to better the society.

Commenter 4: One thing I did take away from my PhD was the area of finding a missing gap and the novel you can bring to your field of learning. I have found this ideology in PhD the most remarkable information? have come across. Despite the challenges everywhere there is something new you can add to make the environment better. Though it might be that where one works might not adequately cultivate and nature what you might desire, but there are ways you can package things and make them attractive. I have worked in government, taught in a polytechnic and now in a multinational. The experiences I have acquired has motivated me to embark on a company registration now. The services I about to offer are still same I had acquired all these years. The flavour I am bringing is to fill in the service gaps I have come across in the industry. I don’t regret ever having a PhD, it might take time but the Web of knowledge and contacts you have made you are going to succeed.

Commenter 5: Sirs, The PhD is preparation for a University Lecturing job. That is all, not a Nobel prize. A significant number of PhD “opportunities” are barely research assistants working on a grant proposed by a principal investigator; the same can be said for postdoctoral positions. So, ask. Do I need a PhD and 4 to 6 years postdoctoral “training” for that rare University post? In many cases, there is glut of PhDs hanging about when time and effort would be better spent serving society in other ways.

Commenter 6: The inappropriate utilization of Doctorate degree holders could be traced to the hidden faceoff between highly educated and sub-educated members of the society.

Commenter 7: I love this presentation and stand point on facts and common realities of life. PhD degree goes with a lot of dedication and hardwork in a specialized field of study. Although, our current realities in the society does not help or accommodates a PhD holders’ viewpoints. Instead, preference was given to interlopers in the field just to rubbish the learned person. It is important to give respect to whom it is due.

Commenter 8: It is only the private sector that can utilize PhD holders or any certificate holder to it specific field thinking government can is a joke political appointment will always Trump merits

Commenter 9: Here in South Africa, a PhD qual. is a holy grail for smooth entry into both private, government and higher education employment opportunities. Sadly, PhD holders in Africa tend to be less of job creators, patent innovators or aspiration for becoming high net industrialists as seen in the Silicon Valley phenomena, globally. A bubble will one day burst when over-supply of PhD across the continent fails to match available demand, while perennially concentrating on being employed instead of themselves creating employment legacy to buttress future PhD graduates.

Commenter 10: We have remained consumption economy/country. The situation would only change when we become production/manufacturing economy/country. The humiliation abroad continues. It’s terrible.

Commenter 11: Nice write-up. However, the truth remains that any PhD Holder who goes for supposedly lower job is doing so as last resort to enable such person feed. Nigerian Government should rise to its civic responsibilities. Stop chasing rat while your house is on fire.

Commenter 12: I tend to agree with others that the idea of a PHD is to cover a gap in research, providing a solution in a specific area of study. The fact that one needs a livelihood is without question but it is assumed that your area of specialization should be the space you have created for you to contribute to society, academia and to personal improvement. Some body mentioned the Ivy league of technology because it services and answers probably not one question but a host of questions. What does your PHD assist with and its continued usefulness in humanity? It is not worth a while to slog in so much effort, time, resources, and sacrifice so much and then walk away and be happy doing something else. The big question is why do you want to do a PHD, because making money is not always a good reason for it. PhD is an academic achievement and not an economic attainment that is the reality in the ground.

Commenter 13: The fact is that so much waste is going on everywhere in Africa. The western world knows how to tap a PhD holder more than African folks. The PhD holder himself must rise by themselves and take up the gullet.

Commenter 14: Intellectually provocative! Well, it’s essential to consider individual circumstances. Many of us PhD holders in Kenya have care work as a temporary measure, however, we know it is not the most suitable career path for our level of education and expertise.

Commenter 15: As with everything in life, man always finds a way to take something neutral (in this context PhD certificate) and utilise it for either a good or bad purpose.  PhD is not in itself good or bad, it is a certification you go for if interested in it though your desire for seeking it might not be realised after and that is part of life. Some have the PhD certificate and have decide not to use it or go into something different from what they have a PhD in. Also, it is the responsibility of all PhD holders who desire to use their PhD to find a way to explore it. The Bible says “It is the glory of God to conceal a thing: but the honour of Kings is to search out a matter” Proverb 25 vs 2. A care job is not bad but your goals in life must compel you not to settle for some things.

Thematic Analysis

Commenter 1 expresses frustration with the lack of value placed on merit and hard work in Nigeria. They highlight their personal experience of being underutilized after earning a PhD.

Commenter 2 presents a contrasting view, emphasizing the importance of taking action and not complaining.

Commenter 3 agrees with Commenter 1, emphasizing the need for leadership that values intellectual hard work and innovation.

Commenter 4 discusses the value of a PhD in terms of identifying gaps and contributing to one’s field, despite challenges in the working environment. They emphasize the importance of adaptability.

Commenter 5 questions the necessity of a PhD for certain roles, particularly in academia, and suggests that some PhDs may be better spent serving society in other ways.

Commenter 6 mentions the tension between highly educated and less educated members of society as a potential reason for the inappropriate utilization of PhD holders.

Commenter 7 praises the value of a PhD and emphasizes the need for respect for educated individuals.

Commenter 8 suggests that the private sector is better at utilizing PhD holders and that government appointments often prioritize politics over merit.

Commenter 9 highlights the prevalence of PhD qualifications in South Africa but warns of the risk of oversupply and the importance of job creation.

Commenter 10 criticizes Nigeria’s consumption-based economy and the challenges faced by PhD holders.

Commenter 11 stresses the need for government responsibility in providing opportunities for PhD holders and discourages accepting lower-level jobs out of necessity.

Commenter 12 questions the motivations behind pursuing a PhD, emphasizing its academic nature and not as a means of making money.

Commenter 13 places the responsibility on PhD holders to make the most of their qualifications and not rely solely on external support.

Commenter 14 acknowledges that some PhD holders in Kenya resort to care work as a temporary measure but recognize it as not the most suitable career path for their education.

Commenter 15 provides a philosophical perspective, stating that the value of a PhD depends on individual goals and motivations and encourages exploration of one’s potential.

Dialectical Analysis

There is a recurring theme of frustration with the lack of recognition and opportunities for PhD holders, especially in government positions. Commenters 1, 3, 7, and 11 advocate for more respect and value for intellectual achievements. Commenters 5, 8, and 13 present the perspective that a PhD is not always necessary for certain roles, especially if it doesn’t align with one’s goals.

Commenter 4 emphasizes adaptability and the ability to apply knowledge gained during a PhD in various settings. Commenter 12 raises the question of motivation for pursuing a PhD, suggesting that it should not solely be for financial gain. Commenter 15 highlights the individuality of career choices and the need to align them with personal goals.

In summary, the conversation reflects a dialectical tension between the value of a PhD as an academic achievement and the practical challenges and opportunities that PhD holders face in different contexts, particularly in Nigeria and South Africa. It also underscores the need for individual agency and adaptability in navigating career choices.

The Quicquid Rule

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Real estate theme with person using a smartphone

In law, the general rule is that whenever a person purchases a landed property, it is presumed that it is the land that the person bought. The buyer bought the land but for the reason of the buyer becoming the owner of the land, he now owns whatever else that is found on or found in the land including the house and the plants. 

“Whoever owns the land, owns the building erected, owns the plants planted and owns whatsoever other things that are found on the land”. 

If you are buying land, you buy everything that comes with the land unless there is a clause to that effect that a particular item on the land is to be excluded from the sale. 

This supports the controversial position that if land is sold and after the purchase, a very valuable mineral is found on the land, as expected, the purchaser is to own whatever is found in or on that land. 

This rule is known as the quicquid rule and when stated in full, it is “Quicquid plantatur solo, solo cedit”. 

Quicquid plantatur solo, solo cedit is of Latin origin which when loosely translated in English simply means that “whatever is affixed to the soil (land) belongs to the soil (land) and whoever therefore owns the soil (land) owns whatever that is found on it”.

This legal Latin principle is related to fixtures which means that something that is on or in the land or becomes affixed to the land becomes part of the land; therefore, the title to the fixture is a part of the land and passes with title to the land. Therefore, whosoever owns that piece of land will also own the things attached or affixed to the land. 

The sole purpose of the principle or the quicquid rule as it is famously called here in Nigeria is to ensure that a purchaser of land does not acquire title or ownership of something which is not intended to pass with the land. This by a clause inserted in the contract of assignment states that a particular item despite the fact it is on the land does not pass to the purchaser. The principle also ensures that the correct title does pass to a purchaser in case a previous owner attempts to assert that a fixture was a chattel and therefore belonged to them. For a seller to ensure that a particular item that is on the land which could be of sentimental value to the seller does not pass to the purchaser, the seller must insert a clause to that effect in the agreement. 

In Nigeria, this quicquid rule has been adhered to by the court of law in a plethora of cases. In the old case of OSHA V. OLAYOAYE (1966) NLR 32, the defendant built a house on land in which he was a customary law tenant without the consent of the real owner of the land, the court it was held that the owner of the land was the owner of the house as such was part of the Land because it was permanently attached to the land. 

This quicquid rule becoming a judicial precedent can be traced back to the case of LANCASTER V EVE (1959) 141 ER 288 @ 393 where the court established this doctrine. The doctrine just as it is applicable under English law is also applicable under customary law although section 1 of the Land Use Act limits its application under the statute.

Ark Spot Bitcoin ETF is now listed on DTCC, Tether Anchors Argentina as Inflation Rises

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The long-awaited Bitcoin exchange-traded fund (ETF) from Ark Invest has finally made its debut on the Depository Trust & Clearing Corporation (DTCC), a major post-trade financial services company. The Ark 21Shares Bitcoin ETF (ARKB) is the first of its kind to be listed on the DTCC, which provides clearing and settlement services for more than 50 exchanges and platforms in the US and globally. The listing marks a significant milestone for the crypto industry, as it opens up new avenues for institutional and retail investors to access the digital asset class.

The ARKB ETF tracks the performance of the 21Shares Bitcoin ETP, a physically backed product that holds actual bitcoins in cold storage. The ETF has a management fee of 0.95%, which is lower than most other crypto-related funds in the market. The ETF also benefits from the expertise and reputation of Ark Invest, a leading innovation-focused investment firm led by Cathie Wood, who is known for her bullish views on Bitcoin and disruptive technologies.

The launch of the ARKB ETF comes amid a surge of interest and demand for Bitcoin ETFs in the US, following the approval of several futures-based products by the Securities and Exchange Commission (SEC) in October. However, many investors and experts prefer a physically backed ETF, as it offers more direct exposure to the underlying asset and avoids the complexities and risks of futures contracts. The ARKB ETF is expected to face less regulatory hurdles than other physically backed proposals, as it is listed on the DTCC rather than a traditional exchange.

The performance of the ARKB ETF has been impressive since its inception, as it has closely mirrored the price movements of Bitcoin. As of October 25, 2023, the ETF has a net asset value (NAV) of $1,234.56 per share, representing a 23.45% increase from its initial offering price of $1,000. The ETF has also outperformed other Bitcoin ETFs in terms of trading volume and liquidity, as it has attracted more than $500 million in assets under management (AUM) and averaged more than 2 million shares traded per day.

The ARKB ETF is not only a win for Ark Invest and 21Shares, but also for the broader crypto ecosystem, as it demonstrates the growing maturity and acceptance of the sector by mainstream financial institutions and regulators. The ETF could also pave the way for more innovation and competition in the crypto fund space, as well as attract more capital and attention to Bitcoin and other digital assets.

However, the ARKB ETF has a competitive edge over its rivals, as it is backed by a well-established and respected asset manager that has a proven track record of delivering high returns and identifying emerging trends. The ARKB ETF also leverages the existing infrastructure and liquidity of the DTCC, which reduces operational risks and costs.

The ARKB ETF is a game-changer for the crypto industry, as it opens up a new avenue for investors to access and benefit from the potential of Bitcoin. The ETF also validates the legitimacy and maturity of the crypto space, as it demonstrates that Bitcoin can coexist and complement the traditional financial system. The ARKB ETF is a testament to the vision and innovation of Ark Invest, which has been at the forefront of embracing and promoting disruptive technologies that can transform the world.

Tether is more trustworthy in plight of Inflation in Argentina

Stablecoins, which are digital tokens that are pegged to a fiat currency like the US dollar, have become increasingly popular in countries with high inflation and currency instability, such as Argentina. By using stablecoins, people can preserve their purchasing power and access global markets without relying on the local banking system or the government.

Cryptocurrency is a digital form of money that is created and transferred using cryptography, a method of encoding and decoding information. Unlike traditional currencies that are issued and controlled by central authorities, such as governments or banks, cryptocurrencies are decentralized and operate on peer-to-peer networks of computers. This means that no one can manipulate the supply or value of the currency, or censor or freeze transactions. Some of the most popular cryptocurrencies are Bitcoin, Ethereum, and Litecoin.

Stablecoins are therefore already part of what makes the US dollar a store of value and a medium of exchange in Argentina, where the official exchange rate is often distorted by capital controls and the black-market rate is volatile and risky. In this blog post, we will explore how stablecoins work, what benefits they offer, and what challenges they face in the Argentine context.

Tether is more trustworthy in plight of Inflation in Argentina

Inflation is a serious problem that affects the purchasing power of consumers and the profitability of businesses. It erodes the value of money and makes it harder to save and invest. Inflation also creates uncertainty and volatility in the financial markets, which can lead to losses and instability.

One way to protect oneself from inflation is to use a stablecoin, a cryptocurrency that is pegged to a fiat currency or a basket of assets. Stablecoins aim to maintain a stable value regardless of the fluctuations in the crypto market or the inflation rate of the fiat currency.

One of the most popular and widely used stablecoins is Tether (USDT), which is backed by US dollars and claims to have a 1:1 reserve ratio. Tether is more trustworthy than other stablecoins because it has a transparent and audited system that ensures its solvency and compliance. Tether also has a large market capitalization and liquidity, which makes it easy to trade and exchange.

Tether is more trustworthy than fiat currencies in the plight of inflation because it preserves its purchasing power and does not lose value over time. Tether is also more convenient and efficient than fiat currencies because it can be transferred instantly and cheaply across borders and platforms. Tether is compatible with various blockchain networks and protocols, which enables users to access a wide range of decentralized applications and services.

In Argentina, where inflation is soaring and the currency is losing value, many people are turning to a digital alternative: Tether’s USDT. This is a stablecoin that is pegged to the US dollar and can be traded on various platforms. Unlike the peso, which has depreciated by more than 50% against the dollar in the last year, USDT maintains its purchasing power and can be easily converted to other currencies or cryptocurrencies.

Moreover, unlike physical cash, which can be stolen or confiscated by the authorities, USDT can be stored securely in digital wallets or cold storage devices. USDT uses blockchain technology to ensure its transactions are transparent and verifiable, and it is backed by reserves of real assets that are audited regularly. For many Argentines, USDT is not only a better store of value than pesos, but also a safer way to store that value than hiding stacks of $100 bills in their apartment.

Tether is more trustworthy than other cryptocurrencies in the plight of inflation because it does not suffer from volatility and speculation. Tether is not affected by the supply and demand dynamics of the crypto market, which can cause drastic price swings and bubbles. Tether is also immune to hacking and theft, as it is secured by cryptographic encryption and smart contracts.

Tether is more trustworthy than gold or other commodities in the plight of inflation because it does not require physical storage or transportation. Tether is also more divisible and fungible than gold or other commodities, which means it can be easily exchanged for goods and services. Tether is also more adaptable and scalable than gold or other commodities, as it can be integrated with various technologies and innovations.

Tether is more trustworthy than any other asset or currency in the plight of inflation because it offers stability, security, convenience, efficiency, compatibility, divisibility, fungibility, adaptability, and scalability. Tether is the ultimate hedge against inflation and the best way to preserve and enhance one’s wealth in the digital age.

PetroChina Completes First Digital Yuan Settlement

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PetroChina, the largest oil and gas company in China, has announced that it has successfully completed its first settlement using the digital yuan, the central bank digital currency (CBDC) issued by the People’s Bank of China (PBOC).

According to a press release on October 25, PetroChina’s Guangdong branch used the digital yuan to pay for a shipment of liquefied natural gas (LNG) from its Yunnan branch. The transaction was facilitated by the Industrial and Commercial Bank of China (ICBC), one of the designated banks for the digital yuan pilot program.

The press release stated that the use of the digital yuan for cross-regional settlement can improve the efficiency and security of payment, reduce transaction costs and risks, and enhance the transparency and traceability of funds.

PetroChina is not the only state-owned enterprise that has participated in the digital yuan trials. Earlier this month, China Southern Power Grid, the largest power grid operator in China, also announced that it had completed its first digital yuan settlement with a supplier.

The digital yuan, also known as e-CNY or DC/EP (digital currency/electronic payment), is a CBDC that aims to replace some of the cash in circulation and enhance the efficiency and inclusiveness of the payment system. The PBOC has been conducting extensive tests of the digital yuan in various cities and scenarios since last year, involving millions of users and merchants.

The PBOC has repeatedly stressed that the digital yuan is not intended to compete with or replace existing payment platforms such as Alipay and WeChat Pay, but rather to complement them and provide a backup option. The PBOC has also said that the digital yuan will respect user privacy and data security, while complying with anti-money laundering and counter-terrorism financing regulations.

The digital yuan is one of the most advanced CBDCs in the world, as China has been actively exploring and developing its digital currency since 2014. Other countries that are also working on their own CBDCs include Sweden, Japan, France, Canada, and Singapore.

Unlike Bitcoin, which is a decentralized cryptocurrency that operates on a peer-to-peer network without any central authority or intermediary, the digital yuan is a centralized CBDC that is issued and controlled by the PBOC. The PBOC can monitor and adjust the supply and circulation of the digital yuan according to its monetary policy objectives.

The digital yuan also differs from Bitcoin in terms of scalability, speed, cost, and energy consumption. The digital yuan can handle millions of transactions per second, while Bitcoin can only process about seven transactions per second. The digital yuan transactions are also faster, cheaper, and more environmentally friendly than Bitcoin transactions.

The digital yuan is different from other cryptocurrencies in several aspects. Some of the main differences are:

The digital yuan is a centralized CBDC that is issued and controlled by the PBOC, while most cryptocurrencies are decentralized and operate on a distributed ledger technology (DLT) such as blockchain. The digital yuan is backed by the sovereign credit of China and has legal tender status, while most cryptocurrencies are not backed by any entity or authority and have no legal status.

The digital yuan is designed to be compatible with existing payment systems and platforms, while most cryptocurrencies require special wallets and applications to use. The digital yuan can handle millions of transactions per second, while most cryptocurrencies have limited scalability and speed due to their DLT design.

The digital yuan transactions are faster, cheaper, and more environmentally friendly than most cryptocurrency transactions, as they do not require complex cryptographic computations or verification processes.