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Top Chinese Official: Digital Yuan Will Generally Respect Privacy

Amid growing reports of accelerated development around a digital yuan, Chinese President Xi Jinping’s related call last month for blockchain to become “core technology” in China made some cryptocurrency analysts warn of intensified surveillance ramifications in the country. Now, an important offici..

China Digital Currency ‘Not Seeking Full Data Control’ — Central Bank

News China is not launching a war on cash by introducing its own digital currency, a senior official from the central bank has said. As Reuters reported on Nov. 12 quoting Mu Changchun, head of the digital currency research institute at the People’s Bank of China (PBoC), Beijing still intends for..

Former PBoC Governor: Libra Would Be Trusted If Run by IMF

News The former head of People’s Bank of China (PBoC), Zhou Xiaochuan has argued that the Libra stablecoin would be more readily trusted if it were in the hands of an organization like the International Monetary Fund (IMF). Zhou is the longest-serving governor of China’s central bank to date, havi..

Joe Lubin: China Will Avoid Blockchain’s ‘Decentralizing Aspects’

News China’s forthcoming digital renminbi is unlikely to use blockchain, considers Ethereum (ETH) co-founder and ConsenSys CEO Joe Lubin. In an interview for CNBC’s Squawk Box Asia on Nov. 6, Lubin argued that the People’s Bank of China (PBoC) has little to gain — for its purposes — from the decen..

Chinese Central Bank Ramps Up Digital Currency Hires

The central bank of Asia’s biggest superpower is looking to hire a half dozen experts, including veterans of cryptography and blockchain development, for its ongoing digital currency efforts. The 2020-focused hiring push comes as part of annual recruitment drive held by the People’s Bank of China, ..

Libra Meets Yuan? China Wants “Sovereignty” With New Digital Currency

In recent months, reports have swirled that the People’s Bank of China (PBoC) has been accelerating its plans on a digital version of its yuan fiat currency, partly in response to Facebook’s proposed plans to create an internationally-minded Libra stablecoin. Now, a top official at the Asian superp..

The Push to Kill Cash – Australia’s Proposed Ban Shows It’s Not Conspiracy Theory

The supposed coordination of governments and tech companies to create a one-world, cashless society is often viewed as little more than fodder for silly Youtube conspiracy videos. After all, cash is still king in daily life, even in extremely high-tech, innovative societies like Japan. Upon closer e..

How Bitcoin Demand is Driven by Central Banks Devaluing Their Currencies

The demand for bitcoin has certainly been tangible over the past few months. Even with a correction of around 30% the digital asset is still up over 160% this year. That growth could have been spurred by central banks devaluing their own currencies as economic skies darken. Big Banks Boosting Bitco..

Currency War Erupts as US and China Bring Out the Big Guns

What started out as a trade dispute between the world’s two largest economies is now a full-blown currency war as the U.S. and China bring their big guns to the battlefield. The impact on the global financial markets was immediate and severe, driving up safe-haven assets as ordinary people fear losi..

Liquidity Difficulties in China: Second Bank Bail-Out Now Reality

Although it has its peculiarities, the Chinese banking sector now faces similar challenges to the west’s financial system. Dozens of small banks have been experiencing liquidity difficulties in the past few months. Observers believe the expanding problem has the potential to trigger a financial cris..

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