Donald Tapscott, executive chairman of the Research Institute, stated that the official currency, the renminbi (RMB), will become a , in an with Bloomberg on April 17.
In the interview, Tapscott revealed that he had recently been at a meeting with the vice-chairman of the Communist Party in , who recalled that President Xi Jinping that is one of the most important technologies for the future of the country.
Speaking about the ban on exchanges, Tapscott outlined that is as well, and added:
“It’s not really necessary to do that [to ban exchanges and ] because in 20 years we are not going to be using in . Chinese people will use the RMB, only the RMB will become a . The central bank of will turn it into a digital currency.”
When asked if decentralized exchanges can operate in — which has previously initial coin offerings () — Tapscott said that they could, although the has a serious stance towards curtailing digital currencies.
Tapscott suggested that decentralized exchanges will eventually dominate centralized ones thanks to their purported ability to transparency and identify “bad behavior.” All assets, including traditional ones like securities, will purportedly be on decentralized exchanges, said Tapscott.
Chinese authorities have long been discussing possible . The National Development and Reform Commission (NDRC) has reportedly included crypto as part of its draft for a revised list of industrial activities the agency intends to shut down because they “lacked safe production conditions, seriously wasted resources, polluted the environment,” among other issues.
However the country remains a major player in the market, with most of the largest pools controlled by local organizations. By mid-2018, crypto operator reportedly operated as many as 11 farms in , and hence would be largely affected by the NDRC’s reported plans.
As for , is reportedly the world in the number of projects currently underway in the country. There are 263 -related projects in , accounting for 25% of the global total.
Last month, a multi-year project called the “Implementation Plan for the Promotion of Transportation Infrastructure Development” was in Jiangsu Province. Per the plan, will be one of the technologies local authorities use in overhauling local transport infrastructure.
Published at Fri, 19 Apr 2019 01:57:41 +0000