Re: It's not Bitcoin
I'm not sure I understand the point of a state-owned crypto-currency. After all, most 'real' currency is anyway "stored" as electronic records and transferred as an electric signal. It just so happens that it's also easily convertible to bits of paper.
What's the difference between 'real' yuan and crypto-yuan?
The main "raisons d'etre" for cryptocurrency are
a) to have a non-falsifiable transaction record that is not under central (bank) control - this is negated if it's centrally controlled by government
b) to have faster transfers with minimal transaction costs - this is not the case with current fiat currences just because banks act as gatekeepers with high costs, and their legacy systems are based on daily batch transfers. Modern online banks are already showing that with the right IT systems you can get faster transfers with minimal cost, it doesn't require a cryptocurrency
So... what's the point of the cyber-yuan, then??