Post
Topic
Board Economics
Re: China launching its own crypto currency ?
by
STT
on 02/10/2019, 14:18:33 UTC
China has a large population, and when every Chinese citizen is required to use their own crypto compared to other crypto, I think the development of cryptocurrency that they make will become a popular crypto

I think it becomes a contradiction when we say China will require its crypto to be used, that doesnt represent capitalism its just an enforced digital currency and likely to be centralized and dictated by the communist central party on the citizens.   Capitalist economies are always from the people upwards not top down, the means of production is owned by the people not the government as is familiar in fascist or nationalist type governments.    
   We've forgotten what capitalism is perhaps but we should draw the line now in called some blockchains as crypto when they arent such as Ripple which is just a company not a free means of distribution.   If China has a blockchain it wont do anything but convey communist orders from the high command of the party and military that controls that country, it will be far inferior to anything of independent worth.