Reply to post: Re: I wonder if the Digital Yuan is based on blockchain by any chance...

China's Digital Yuan not aimed at challenging US dollar, says former People’s Bank governor

vtcodger Silver badge

Re: I wonder if the Digital Yuan is based on blockchain by any chance...

Based on blockchain? Probably not? It looks like it might be much easier and far less resource intensive to manage a digital currency through a "trusted authority" like the People's Bank of China than through a blockchain protected distributed ledger.

Who's going to trust the PBC? Well, yes, that might well be a problem. Outside of the 18% of humanity that lives in China and presumably wouldn't have all that much choice.

Something to ponder. Which would you trust most -- the PBC, the US Federal Reserve System, Big Tech(e.g. PayPal), or a fancy technology touted by clever but somewhat flawed folks whose mantra is "move fast, break things"?

On the other hand I know very little about either cryptography or economics. Which I suspect puts me one step ahead of experts in those fields. At least I know I'm ignorant.

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