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...
If China also quickly continues to develop in the same direction and can correctly apply new technologies associated with cryptocurrency, it will overtake the United States and become a world leader.
The trade war continues but this time this will be in the different dimension like blockchain world. If both of them just keep manipulating their currency, this time in blockchain the transparency will show which of them manipulates all the time. If they kept printing their bills all the time to shrink debts, minting coins in blockchain will be shown. Is US prepared to show transparency?
China really wanted to compete in all aspect, they don't want to be defeated and they can't accept the fact that USA has a lot of control over Bitcoin as many USA citizens are holding it over them, so what they are doing is they are banning Bitcoin mining and Bitcoin itself to China as they are preparing for something bigger.