[2018-03-20] First Hand Chinese News - New Governor of People Bank's of China

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: ericbai1989 on March 20, 2018, 09:56:25 PM

It is reported that the new governor is kind of friendly to the bitcoin.

He stated that he is inspired by bitcoin in running the financial system in 2013.

He was a professor at US Indiana University in 1986.

But my personal understanding is the government will not open the free market for the bitcoin. One possible approach is to open a centralized exchange to list the only selective tokens as a way to encourage innovation.

You may find the most updated information from China and beyond by https://t.me/oneminute_crypto_news.

I am not particularly excited about this news because People's Bank of China can't decide anything alone. They can just provide advisory to the government on the monetary policies but government decides the final outcome. So it holds no significance if the governor of PBOC is crypto friendly or not as he doesn't have decision making power.

Coffee135

full member

Activity: 392

Merit: 137

For me, this news is for news. As the Governor may reverse the decision of the Chairman of the Communist party of China? Nohow. If he is told by top officials to say that bitcoin is evil he will say it. The Governor can engage in economic activities in the region, but key decisions are taken at a higher level.

Benkortan

newbie

Activity: 32

Merit: 0

One guy can't change the whole system. The best example is Obama and Trump. Even there is a big difference between these two the politics remain the same. The system is so powerful that presidents can't change much. NRA or national rifle association is very powerful and they can't change laws much which are related to weapons.

davis196

hero member

Activity: 3150

Merit: 937

Quote from: ericbai1989 on March 20, 2018, 09:56:25 PM

It is reported that the new governor is kind of friendly to the bitcoin.

He stated that he is inspired by bitcoin in running the financial system in 2013.

He was a professor at US Indiana University in 1986.

But my personal understanding is the government will not open the free market for the bitcoin. One possible approach is to open a centralized exchange to list the only selective tokens as a way to encourage innovation.

You may find the most updated information from China and beyond by https://t.me/oneminute_crypto_news.

It doesn`t matter who is the governor of the people bank`s of China.The PBOC can`t make independent decisions,they are controlled by the chinese commnuist government.He might be inspired by bitcoin,but that doesn`t mean anything.China will continue on it`s way to create a state-backed cryptocurrency.
OP,you are wrong about this.A centralized exchange can`t encourage innovations.Only the free market will lead to faster adoption of the blockchain and crypto technologies.

ericbai1989

newbie

Activity: 85

Merit: 0

It is reported that the new governor is kind of friendly to the bitcoin.

He stated that he is inspired by bitcoin in running the financial system in 2013.

He was a professor at US Indiana University in 1986.

But my personal understanding is the government will not open the free market for the bitcoin. One possible approach is to open a centralized exchange to list the only selective tokens as a way to encourage innovation.

You may find the most updated information from China and beyond by https://t.me/oneminute_crypto_news.

Topic: [2018-03-20] First Hand Chinese News - New Governor of People Bank's of China (Read 160 times)