Re: I am no lover of the Chinese political system
The Chinese government already tracks its subjects all the time anyway. And, as recent events have shown, any kind of digital currency can be tracked until it enters the banking system, which is why banks all over the world are being told to comply with account holder requests or risk being thrown out of the clearing and transfer systems. The Chinese government is worried about credit growth in the various shadow banking systems, which is why it is introducing its own digital currency and imposing controls on the various payment systems.
Crypto currencies are yet another example of tech solutionists praising something almost entirely because it's unregulated. Presumably, this is based on the idea that whatever is unregulated is just waiting to have its price discovered and exploited: low orbit internet service providers would be another example.
Biting the hand that feeds IT
