Cryptocurrency China will not be decentralized, but Bitcoin only better

CEO Binance Chanpen Zhao believes the new project of the Chinese government. According to him, “national cryptocurrency” China will do a lot for the industry coins. Zhao does not approve of the policy of the leadership of the country relative to the stock market as a whole. However, the Central Bank issued coin will give new opportunities for large investors and for business.

China is on the right track

A new government initiative has received the acronym CBDC — from the English “Central Bank Digital Currency”. It is expected that CBDC will use for digital payments in the country, and the number of tokens will be controlled by the Central Bank of China.

Many other countries will follow China’s example and also begin to develop and integrate your own cryptoprocta in Finance.

Of course, the banking of digital currency will not match the conventional cryptocurrencies. They are not decentralized, so their production and control rests with only one financial institution. Rather, it’s more like a digital version of the conventional national currency.

However, according to Zhao, “it is better to have at least such a project than not have him at all.” After reviewing the centralized digital currencies ordinary people will be easier to “get used” to Bitcoin or Aldona. If China really will make a splash with the help of CBDC, we can expect a large influx of new investors in the “real” blockchain industry.

My personal point of view — the more digital currencies the better. Have the choice of a large number of options is better than not having it at all.

And yet the hostility of the Chinese government towards Bitcoin a little alarming. Previously, China has repeatedly tried to ban cryptocurrencies and their mining.

Recent examples suffice: In the Autonomous region of China are no longer welcome to crypto currency miners. What will be the ban?

However, in the words Campana do have logic. “Defective” crypto-currencies of different countries can be a guide to the world of proper coins for the masses. Yet to plunge into the topic of cryptocurrency from scratch is very difficult — in particular because of the abundance of scammers and want to steal your coins. So the initiative we could support.

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