Frustration and Despair: Chinese Government Accelerates Its Blockchain Bet and Gain Ground in the World Economy.

By derwin25 | Worldinfo | 16 Apr 2020


   It is not surprising that all the Events that have occurred in recent days regarding the economy, especially in Blockchain development, will have so much relevance in the weakened structure of society, plagued by the current pandemic that overwhelms the Nations, since This point is going to start fighting for economic control in the world.


   A few months ago it was announced that the Communist Government of China was working on a possible Crypto Yuan project to further strengthen its economy and power in the world. This initiative could possibly be given by the controversial and criticized Facebook Libra project that in the end for many reasons may never see the light in the end, all these inconveniences and events have been an impetus for China to put its future to work economic strategies against its main container in the world USA.   3143414223-1951b973684e6082566acd5540ec4b6eeca0bb08baec0d4db8dcd569811fd100.jpeg
   The US has always been seen as the greatest power in the world, it is not a secret to anyone that they have always had a strong Ego and altruism towards themselves, since from the beginning they have the fever of "YOYO", how is this? well "I can do that", "I want that", "I am the only one I have", anyway.

   This is one of the main causes that your Nemesis China has been on guard for a long time ago, innovating and accelerating the tests with its digital currency and even more due to the quarantines implemented in its territory, this due to the expansion of the coronavirus pandemic. Currently, and it is regrettable, the United States is the country most affected by the Pandemic COVID-19 and therefore its economy is being severely damaged day after day, by the mismanagement of its government in the face of these unprecedented events, with this scenario not very encouraging for this The nation falls into despair and frustration in trying to reopen its economy in the midst of a pandemic so that there is no brutal fall in its capital income, which could be one of the most disastrous events in history.   3143414223-b25b143c2d0d4aeef52c4c400a015b639d57bb26e757867ea9598a3819d8e550.gif

   China already after overcoming the outbreak on its part has already given the green light for the start of operations in a Blockchain network that began to operate on April 25, the digital Yuan would be anchored 1: 1 with the national currency and would be backed by the Chinese central bank. The Chinese blockchain would be a centralized network under the control of a national government, something that could go against the principles of privacy and resistance to censorship, which would raise certain questions about its operation.

   "In the coming months we will see a very different picture of the global economy, as well as China, many other countries will see the need to get closer to blockchain technology as it is the most profitable way to build an economy that will be even worse than the 2008 recession when Bitcoin emerged as a storage medium of value. This is a new opportunity for these new technological trends to demonstrate why they are here to stay".


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