Will China tokenize the yuan?

Bloomberg reported that China might be thinking of turning the RMB into a crypto asset.



So far, China has been hostile to bitcoins and other digital currencies because they can not manage digital currencies.

At first we banned the exchange, and there was a rumor that it might also ban mining this time as well.



However, Xi Jinping Jintao, is a fan of the block chain technology.



He said that “blockchain is one of the most important technologies for China's future”.



In other words, China is likely to be developed focusing on centralization and management in the future.

If so, China might digitize the renminbi and keep 100% control.



In addition, countries may gradually phase out non-tokenized sources and become cashless countries.



And the concern here is that blockchain-based currencies enhance the government's financial oversight capabilities.



Decentralization gives power to the general public.

But that is also the government's most afraid.



Decentralized digital currency continues to progress, allowing hundreds of thousands of people to trade in alternative financial systems.

No one can stop it.



The existence of bitcoins is a manifestation of protests against existing systems.

Bitcoin is increasing the block one by one again today.

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