The Chinese government promises not to track users of national cryptocurrencies

The Chinese government has denied claims that a centralized cryptocurrency PRC called DCEP is used for permanent surveillance of citizens. The government promises to ordinary Chinese “controlled anonymity” until such time as they are not involved in any illegal activities.

Features Chinese cryptocurrency

Key features of the DCEP was devoted to the Mu Changchun, head of the research Department of the Central Bank of China.

We know that many citizens want to preserve their anonymity, using banknotes or coins. We will satisfy people’s requirements for anonymity in their transactions.

However, to relinquish control completely still will not work. The government will actively deal with tax evaders, swindlers and those who Finance terrorist activities.

The Central Bank Of China. Source: WAMU

Earlier, the founder of HCM Capital Jack Lee stated that a centralized cryptocurrency China could be launched in the coming months.

They [Bank of China] is already ready all the system and network. I think you will soon witness the official launch of the DCEP, probably in the next two or three months.

Therefore, to verify the statements of its authorities will soon enough.

The difference of centralized and decentralized currencies is the approach. In the first case the project has a Central governing body, which has a great potential and rights. He can at least affect the users, their access to the service and endorsement operations. In decentralized projects, all network members are equal, so the term intervention is minimal.

In the PRC adopted a new course on the development of decentralized technologies and active learning potential of the blockchain. Some see this as a strong argument for the growth of Bitcoin, while others fear the active promotion of centralization in China.

China’s President XI Jinping. Source: Bitcoinist


In any case, to take seriously such statements from the government is difficult. Since when China refuses to control its citizens? Of course, hardly every ordinary Chinese will be under close supervision constantly, however, his financial transactions are sure to be fully visible to the relevant state authorities.

This idea in General is contrary to the concept of decentralized coins. But there is a plus. It is possible that the work with the controlled project authorities will force residents to want to get acquainted with these cryptocurrencies, and it will accelerate their adoption. In addition, the government has already told the locals about Bitcoin and even called it the first successful example of application of the blockchain. That is, the existence of many BTC at least known.

A high level of anonymosity — another reason to buy Bitcoin or altcoins. About profitable coins will tell you the subscribers of our cryptodata millionaires. And learn about the real situation in China will help this material.

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