I know that some will be arguing that what China is cooking right now is not actually a real cryptocurrency due to its centralized and state-controlled nature. But what the heck, China is the next world superpower and it is seeing the vision of using cryptocurrency to further its entrenched economic position all the world.
I am seeing a great potential of this coming state cryptocurrency to be utilized in transacting business with China or in eCommerce department, and this is a huge potential. Jack Ma must already be thinking something how to exploit this great opportunity.
Are you seeing what I describe here? China is conquering the globe without using any sword...
China has serious reputation and power over the economy so it did not surprised me when I heard about this news. Instead, I have anticipated that will would happen. With this note, I assume that the government of this country aims to have a solid position in the crypto industry. They have the capital and the technology to do so but it concerns me what will be its impact in the industry as a whole.