I watched a video today:
https://m.youtube.com/watch?v=WWY7A221hwAChina is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.
This must be all part of the overarching economic vision set forth by the leadership of China as it seeks dominance and full leadership of the global economy. There is no question that China will soon be the top economy displacing the fooled and sluggish USA and Europe. Soon all countries of the world would be under the great influence of China and since it will have the money it can do anything and everything it wanted to in the international scene. we are already witnessing how this country can be good in one side but bully on the other side.
This could be trusted. It was recently on the news that AliPay's parent company tried to buy MoneyGram, a US based remittance company with branches. All over the world. US regulators shut down their bid in fears of national security. I am not American but I know that if my country had such big companies my government wouldn't give a rip about them being sold to communist state business es. It's one of the few times I see regulation sounding reasonable. Hopefully this will help crypto with its share in the market.