PBoC Head Says Digital Currency is Inevitable

steemero (63)in #cryptocurrency • 7 years ago

China is the first country who wages war against Cryptocurrency. They banned Cryptocurrency exchange and all form of ICO. Even they do not like Cryptocurrency mining. It is rumored that they did not allow cryptocurrency experts to travel abroad. No matter what China is thinking or doing Cryptocurrency or Blockchain technology is going ahead.

Still, China does not recognize Bitcoin as a form of payment. At a press conference, Governor of the Peoples Bank of China said that Still, Bitcoin is not a legitimate payment method. Governor again said that they will prevent irreparable damages to the domestic economy.

They must prevent substantial and irreparable damages to the domestic economy

It is clear that China is concerned for the aggression of Cryptocurrency and technology behind it. From the very beginning they categorically said that they will not allow Bitcoin as a legitimate payment method. After the initial ban on Cryptocurrency last year, Bitcoin price falls for few weeks but recoverd quickly and reached a all time high of $20k

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#ban #china #blockchain

7 years ago in #cryptocurrency by steemero (63)

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postpromoter (63) 7 years ago

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cryptohumster (58) 7 years ago

I believe china will soon be alone in this war. A lot of countries don't recognise crypto as means of payment, but they can't actually do anything against it. China has "the great firewall of china", they can technically set a good block, but others can't. It is technically impossible to do the same in other countries. So they will face the fact that they can't block it. The only other option is to regulate it (if we don't take into account ignoring crypto at all). Thats why I'm positive with crypto acceptence in this year.

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