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[ElPaule]

there are announcements, that the China made a huge step towards own block chain based digital renminbi by processing wage payouts on the state controlled chain directly in employees digital wallets. The pilot, run in Xiong'an district does not only include paying wages, also looking to create cases based on users needs to build digital renminbi ecological circulation system.
This seems to be very futuristic and sound truly inovative but unfortunately this pilot goes hand in hand with the ban of other cryptocurrencies within mainland china.

Nevertheless, other countries that have a more liberal approach towards crypto currencies should follow this pilot closely since there is a lot of green field development and there might be some approaches that can be adapted towards their nations own strategy.

 

[Wisdom01]

The adoption does not still contributes to the development of the crypto community,because the China ban really affected crypto curency ,but they keep using b'ockchain

 

[ElPaule]

The adoption does not still contributes to the development of the crypto community,because the China ban really affected crypto curency ,but they keep using b'ockchain

Often it doesn't. Look how big cloud service providers use open source adapt this to their business models and often do not contribute back to the open source community. Unfortunately this is normal business. On a national focused project of Chinese electronic payment system I did not expect that they adapt all features of a distributed blockchain crypto currency. Nevertheless it seems they did copied the essential parts that fits to them to create a centralized blockchain based currency.
This unfortunately means that other central banks may be looking / developing into the same direction.

 

[Niftyicon]

Paying salaries in the digital currency can only mean that China is very serious about this and may likely do away with its fiat some time in the future.

 

[ElPaule]

Paying salaries in the digital currency can only mean that China is very serious about this and may likely do away with its fiat some time in the future.

I think this is a plan for many nations. There are many benefits for electronic currency and huge amount of our life's transactions haven electronically. Maintain fiat is just costly, lack of traceability and control.

imagine to be the USA and to sanction another country you just need to switch a key, all transactions with residents, corporations or public entities of this nations will be blocked. Or every other dark control measure you can imagine…. You got divorced? No booze to reduce risk of suicide or public rage. You buy cigarettes? Notifications to your healthcare provider….

 

[amgad100100]

That news will change Crypto game soon because i think if most country try to do the same then will begun a new game of block chain technology .