He had already spoken in March 2018 of the then governor of the Chinese central bank Zhou Xiaochuan, during a press conference in which he spoke of cryptocurrencies and of his concrete possibility that in the future they could replace the traditional coins. Now, one year later, the first confirmations are received as to whether China is seriously thinking of creating its own state cryptocurrency. China has always been rather ambiguous with the subject, considering that in 2017 it had banned some cryptocurrency exchanges and ICOs, putting a blow to the valuations of the most famous digital currency. Then, in 2019, the so-called "mining" of Bitcoin was announced.

In China, according to some estimates, in fact, there would be the largest Bitcoin "mines", and the country would also be the first in the world as a Bitcoin holder and user. While the government officially had an attitude of open hostility, the Chinese population instead seems to look with great interest at the world of digital currencies. In 2017, the Banca Popolare had already organized a research project on digital money and electronic payments, after formal approval by the State Council. The fact that the project started as early as 2017, and has already received the approval of the State Council, sheds new light on the behavior that China has recently maintained towards cryptocurrencies. Certainly, as often happens, what the Asian country to see is not what it thinks or realizes behind the scenes.

His hostility, so open to digital currencies, would look like a move to divert general attention to projects that would instead involve a commitment by the Chinese government itself. This commitment seems to be confirmed by Wang Xin, director of the research office of the Chinese People's Bank, who said that China is working on a project on the blockchain, remaining rather vague, but the fact that it has cited the Facebook coin stable, leaves think that the intent is precisely to analyze the possibilities of launching a digital state currency soon. Surely Facebook's move accelerated what was an ongoing process, considering that China has long fought a personal battle against the United States, due to the depreciation of the yuan.

In fact, according to experts, the creation of a currency similar to the one that Facebook intends to create would allow China great room for maneuver from the point of view of currency and economic control. It should not be forgotten that China is one of the countries that most uses digital payments already, also thanks to its widespread Wechat app, through which it is possible for years to carry out digital transactions. It is no coincidence that in May, WeChat has prohibited cryptocurrency transactions in its terms of use of its payment services. In short, Facebook with its move has certainly thrown the stone into the pond of world finance, and it is easy to predict that nothing will ever be the same again.