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...
And so? If china creates cryptocurrency, would they now impose the use of the currencies on us, they can impose it on people like you who have absolute no idea of why bitcoin is totally different from their own cryptocurrency. The fact that china is creating cryptocurrency does not mean I should be fidgeting or jubilating because I would still not see what advantage it will have over bitcoin.
First, china will never create a currency that will be volatile which makes it very useless to people, its regulation will surely make it more of a stable coin, and when we talk of stable coin, we all know what we need stable coin for and we all know what we need volatile coins for, both are not same function. If china like crates their currency, watch and see how it will still be flogged by bitcoin.