China is only allowing permissioned and private blockchain, which makes tracing easier.

To a large extent China cannot follow the democratic processes of western countries because of its own unique position. It will be a disaster considering that China has a population of 1.4 billion people and has just started opening up to the world. This requires guided and staggered opening up as the country matures.

Since China will certainly become a world leader in many things replacing countries like the US and others, my only hope is that China will play a positive role in the development of other weaker countries for a win win outcome, rather than bank roll only its selfish agenda.

Stay blessed.