I'll just leave this here and wait, patiently, for the trolls to wake up:
China's Digital Currency
The People’s Bank of China (PBoC)
That would be the peoples money right? PayCoin??? XPY???
I'd love for China to do this, make it mineable as a SHA256 coin... imagine what would happen as those huge farms switch over to mining their new crypto national currency... and the Bitcoin network hash rate TANKS. A guy can dream, right?
I call FUD!
Never going to happen that would give the people too much power over the currency.
Where does it say it's going to be a crypto currency? People's Bank is likely to process the transactions on behalf of "people". Plus they don't need to transparency of the blockchain anyway.
This isn't Asia Coin all over is it? I do like what @rootdude said. yes that would be a dream!
Ahhh... all is right in the world when @suchtroll comes knocking!
Are you intimating that the Peoples Republic of China is going to create a digital currency from scratch? The same country that innovates by copying the tech that other countries send it to mass-produce (or steal it outright)?
You summoned, what was I supposed to do...
China can steal the idea of WoW gold or PayPal or whatever. Doesn't have to be Bitcoin, which is anarchy incarnate and potentially dangerous to the regime.
I can think of more than a few ways to 'control' bitcoin protocols, especially with the 'walled garden' that is Chinese internet.
E.g. hire Bitcoin Core dev team to do their "dog in the manger" act.
My G'ma used to call it a "Dog & Pony Show" is that the same thing?
It does involve dogs and possibly ponies too but not much of a show.
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They should just tie this in with their proposed Sesame Credit plan: http://www.bbc.com/news/world-asia-china-34592186