|Start date||November 2016|
PandaGold – A newly introduced currency
PandaGold is a digital currency developed in China and it was introduced in market on November 15, 2016. Cryptocurrency is getting popular gradually and China is one of the highest users of Bitcoin since its inception. It has been observed that 42% of Bitcoin transactions are performed in China, which includes transactions, exchanges, and mining. According to market report of 2016, half of the total mining activities with Bitcoin were performed in China. But still there was a gap as Bitcoin was not a Chinese currency and it was invented outside of China.
PandaGold will substitute Bitcoin mining in China
Market analysts have opined that it is conceived as an alternative of Bitcoin and gradually PandaGold will substitute Bitcoin mining and transaction in China. China is stringently trying to popularize digital currency for their cashless transaction. Thereby a currency was needed there which sounds much more Chinese than a foreign one. In fact with 400 million millennial Chinese consumers’ database is a grand platform for promoting the use of Cryptocurrency, which had worked as the initial operating platform for PandaGold.
It has been designed keeping Chinese culture and tradition in focus. The initial number of this digital currency issues was 88,888,888; in Chinese culture, the numeral 8 is considered as the symbol of luck and fortune. This coin in embossed with the image of a Panda in golden color and the coin has red color in its background.
According to Garland E. Harris, one of the creators of the PANDAGOLD coin, PandaGold has an international branding and utility wise. it offers interchangeable feature with Bitcoin that has added to its user friendliness and worldwide acceptance.Currently, the new Chinese cryptocurrency PandaGold is operating in the market in full swing for trading from https://wallet.counterwallet.io/, which is a secured trading platform of Bitcoin Blockchain.
Furthermore, Garland E. Harris has expressed an opinion about PandaGold that although it is introduced as a cryptocurrency. The digital currency has that potential which can ultimately turn to be the national currency of China especially when the majority of Chinese businesses and consumers will be used with this digital coin conception for doing their business transaction and use of it in daily life.