State cryptocurrencies allow mass control, Hong Kong rejects the Chinese CBDC

By Roberto D. | CryptoFarm | 18 Nov 2019


While the protests in Hong Kong show no sign of abating and the use of violence, both by the police and by the protesters, the creator of the app (censored by the government) that tracks the movements of demonstrators and boccia police becomes systematic bluntly the Chinese digital yuan. According to one of the major exponents of the anti-government protests in Hong Kong for months, the Chinese CBDC has, among other things, the aim of promoting mass surveillance. The Chinese central bank has already denied any kind of analysis in this regard, arguing that the new currency will guarantee a good level of transaction privacy, however until this new instrument is physically issued it is practically impossible to understand how things really are. It must be said that even the community of cryptographic experts has expressed several doubts about the declarations of the central bank, also because the institution has spoken of "controllable anonymity" therefore using a very smoky expression that can, perhaps, draw public opinion has been deceived but has provoked a certain indignation among cryptography experts at an international level.

Meanwhile, as various sources report and as we have written in an article a few hours ago, new rumors emerge on the different blockchain platforms currently being studied in China that will be implemented in the public administration; according to local sources, an experiment relating to a 100% cashless system is about to start in at least three Chinese cities, while smart city investments continue both in China and in other areas of south-east Asia through companies Chinese particularly active in the sector. However one wants to see it at a technological level, China is becoming a hub and a laboratory of the highest importance at international level, extremely interesting to follow for any observer intending to try to understand what the future holds; as ValuteVirtuali we will continue to follow these expressions and to inform you about how things will evolve in the country, the advice we give you again and to find reference points via social networks that help you understand what is happening in China because the situation is constantly changing and remain daily updated on what is happening in the country is quite challenging.

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Roberto D.
Roberto D.

Born, and still living, in Italy. Passionate about cryptocurrencies since I discovered ethereum in 2016 https://linktr.ee/robertod


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