Re: China’s Digital Currency Will Allow Consumers ‘Controllable Anonymity’
The Peoples Bank of China (PBOC) is the first major central bank to hint at issuing its own digital currency. Consumers fear an end to the anonymity of cash, but officials say that their goal is controllable anonymity.
Based on data from patents that have already been filed, Chinese businesses and citizens would download digital wallets which can be replenished from bank branches and then used to make digital cash payments.
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I don't know what are you going to say about this guys regarding "controllable anonymity". Do you think it's a good thing for Chinese consumers? As China is pushing to invest big time on blockchain by 2023, along with removing the "cryptocurrency mining" ban and circulating a Bitcoin article to their citizens, I think it's a good sign.
I strongly believe that Bitcoin and other cryptocurrencies would be massively adopted much faster as China is back in the game as one of the biggest crypto players around the corner.
The PBOC is poised to become the first major central bank to issue a digital version of its currency. According to new patents registered by the PBOC and official speeches, it could work something like this: Consumers and businesses would download a digital wallet on their mobile phone and load the digital cash from their account at a commercial bank - similar to going to an ATM. They then use that like cash to make and receive payments with anyone else who also has a digital wallet.
This will be a no for me dawg.