China’s digital currency finds its first cross-border payments buddy: Hong Kong China has found the first jurisdiction willing to entertain the idea of using its digital currency for cross-border payments: Hong Kong. The CEO of Hong Kong’s Monetary Authority (HKMA), Eddie Yue, on Friday posted an article titled “A New Trend for Fintech - Cross-border Payment” that discussed how the Authority is working to …
"Jurismydicktion" - I think that was the original "Men in Black" movie, near the beginning.
(OK the answer to all of your questions can be seen right here, in this device... *flash*)
It wouldn't surprise me if China's digital currency had a way of tracking people and their purchases secretly built into it... (basically the opposite of BitCoin in that regard)
For why ELSE would they need "their own"? Or is future currency manipulation also part of it, too? Or something even *WORSE*
"It wouldn't surprise me if China's digital currency had a way of tracking people and their purchases secretly built into it..."
You would be incorrect. Instead, China's digital currency has a way of tracking people and their purchases explicitly and openly built into it... They don't want it to be secret; they don't need to make people trust it in order to make people use it. They want it well known that, if you use your money for something the state wouldn't like, you're getting tracked down and jailed. They've already been making clear that they're tracking everything else to make their citizens scared of possible repercussions. They have surveillance systems which they describe in detail and don't bother to hide at all, a thing called social credit score which is exactly what it sounds like and is clearly explained, rules about what's not allowed on the internet and a convenient tip line to let them know when someone's violating it, and many more systems of that nature. This is just one more step in that.
Mr Yue, the head of PBOC and HK's political commissar will see you now.
Ah Mr Yue, this digital currency is great and we would like HK to be the first to join us.
Sorry guys we use SWIFT.
Mr Yue we would like to offer free education classes for you, your family, closest friends and colleagues, on the very northern mainland, with no time limit.
You know guys, on second thought, SWIFT is an imperial Yankee dog puppet and your digital currency is a great idea, were do I sign up.
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