China is going cashless with more centralization - page 2.

bribed

full member

Activity: 238

Merit: 100

Quote from: pinkflower on January 14, 2018, 09:24:11 PM

Quote from: alani123 on January 14, 2018, 06:58:16 PM

I watched a video today: https://m.youtube.com/watch?v=WWY7A221hwA

China is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.

Careless? They are really careful in maintaining control of their financial system. BTC is a threat to that control thats why they were so keen in having it banned.

Anyhow, why would the Chinese government fully accept something that they cant control?

Thats also true for the chinese government. But OP is right, the majority of the chinese citizens seem to more or less not care about those issues concerning their financial privacy or their personal privacy in general. Its just to hope that the chinese start to care about this at some point.

faithupgrade

sr. member

Activity: 475

Merit: 253

ARCS - A New World Token

They just want everything in balance. They would not banned the crypto as many high profile Chinese people are heavily invested in crypto, that includes Chinese people in their government.

Hydrogen

legendary

Activity: 2562

Merit: 1441

Quote from: alani123 on January 14, 2018, 06:58:16 PM

I watched a video today: https://m.youtube.com/watch?v=WWY7A221hwA

China is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.

....

One question with china's strategy is whether their communist government can develop and manage an electronic payment system better than the private sector. This question also applies to socialist venezuela and other historical instances where similar things have been attempted.

Part of the reason venezuela isn't in the best shape economically involves their socialist state waging a war against all forms of capitalism in the country. This war destroyed jobs and drove private enterprise out of the country. The socialist state was unable to create jobs, distribute resources and create economic opportunity better than the private sector, and so we see the shape venezuela is in now.

It is possible we will see china make many of the same mistakes venezuela made as they seek to bring things like electronic payment directly under the state's control.

It may be that heavily centralized political structures like a communist government lack the competition necessary to run programs which are efficient. In the business world, it is survival of the fittest to a degree. Centralized states have no competition which could contribute towards them becoming wasteful, inefficient and dysfunctional.

player514

legendary

Activity: 1414

Merit: 1039

Quote from: ganlianshifu1 on January 14, 2018, 08:59:34 PM

Mobile payments in the cause of China's thriving thanks to the development of e-commerce, the use of mobile payment and offline local residents consumption habits have relations, the outbreak of the China mobile payment, also "played" policy support, the mobile payment industry is in rapid development!

What I find even more important is the availability of technology to the Chinese public. If you've ever been to China, there are so many advertisements for mobile phones and almost everyone in major cities have phones. To have that large of a population and give everyone a type of technological device to communicate with others is huge. These phones don't even lack in specs; they're pretty good overall.

Having that linking part to the entirety of the population definitely helps out. China is able to take advantage of this and even though they're very centralized in terms of everything their government does, their technological prowess is very impressive.

Bobby park

member

Activity: 546

Merit: 24

Quote from: splat44 on January 15, 2018, 11:20:32 AM

Quote from: alani123 on January 14, 2018, 06:58:16 PM

I watched a video today: https://m.youtube.com/watch?v=WWY7A221hwA

China is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.

There Communist government is controlling them because majority of people in China are new to this technology that's why governments will help their citizen to make a trasanction online and they control the circulation of money.

Later on, Chinese citizen will dominate cryptocurrency and build up different projects with innovations of blockchain technology. Somehow it seems like cryptocurrency is adapting in every corners of the world. A good news for crypto enthusiast because we will have more numbers of project to join specially China joined already the trends.

SiberianWanderer

jr. member

Activity: 52

Merit: 2

Chinese communist government has total oversight of its citizens' every move with centralized cashless payments, monitoring of instant messaging and social media, censorship of internet, and requirement to input identity number in pretty much everything.
George Orwell's 1984 is a already a reality in China and that's why the government feels so threatened by decentralized crypto.

szpalata

sr. member

Activity: 686

Merit: 253

Quote from: Mometaskers on January 15, 2018, 04:36:57 PM

Don't they already pay for stuff using chat apps? Alipay and WeChat? China is basically paving the way for every government's wet dreams, total control of money. Since these app also collect your data, they'd know what stuff you are buying, who you are socializing with, etc. Big Brother ain't far behind.

The Chinese government seems to be active lately about his monetary issues and is doing everything to control how money flows in its jurisdiction but hope he will not drive away foreign investors by his nosy policies in recent times.

Mometaskers

hero member

Activity: 1764

Merit: 584

Don't they already pay for stuff using chat apps? Alipay and WeChat? China is basically paving the way for every government's wet dreams, total control of money. Since these app also collect your data, they'd know what stuff you are buying, who you are socializing with, etc. Big Brother ain't far behind.

phreakk

sr. member

Activity: 307

Merit: 250

Quote from: stompix on January 15, 2018, 11:10:06 AM

Quote from: alani123 on January 14, 2018, 06:58:16 PM

I watched a video today: https://m.youtube.com/watch?v=WWY7A221hwA

China is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.

Replace China with Sweden:
http://www.bbc.com/news/business-41095004

Now, that isn't looking as bad as the previous, right?
Probably is because of the government in charge right? swedish vs chinese
So, each gets what he deserves for having stupid leaders in place.

Quote from: DIAH PERMATASARI on January 14, 2018, 10:11:58 PM

it is worth the development of the world of crypto in china very rapidly once, as evidenced by the largest bitcoin mining in existence in china, trade sites also from there wow very amazing

There is no development in crypto in china. None.
All they have is cheap energy for mining and fake numbers on exchanges.

Gotta agree on that. China's government is very incapable and I definitely wouldn't want them to be able to access my funds if I were a wealthy person.
They know that and feel like they should keep control to avoid people going out into cryptos. A truly sad world it is.

Quote from: splat44 on January 15, 2018, 11:20:32 AM

Quote from: alani123 on January 14, 2018, 06:58:16 PM

I watched a video today: https://m.youtube.com/watch?v=WWY7A221hwA

China is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.

There Communist government is controlling them because majority of people in China are new to this technology that's why governments will help their citizen to make a trasanction online and they control the circulation of money.

Lmao... You really think the government of China is blocking cryptocurrencies just to help newbies? Nice idea, but that's definitely not even close to the real reason... Power is what makes them do it. Not the health & wealth of the population.

splat44

sr. member

Activity: 384

Merit: 250

Quote from: alani123 on January 14, 2018, 06:58:16 PM

I watched a video today: https://m.youtube.com/watch?v=WWY7A221hwA

China is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.

There Communist government is controlling them because majority of people in China are new to this technology that's why governments will help their citizen to make a trasanction online and they control the circulation of money.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: alani123 on January 14, 2018, 06:58:16 PM

I watched a video today: https://m.youtube.com/watch?v=WWY7A221hwA

China is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.

Replace China with Sweden:
http://www.bbc.com/news/business-41095004

Now, that isn't looking as bad as the previous, right?
Probably is because of the government in charge right? swedish vs chinese
So, each gets what he deserves for having stupid leaders in place.

Quote from: DIAH PERMATASARI on January 14, 2018, 10:11:58 PM

it is worth the development of the world of crypto in china very rapidly once, as evidenced by the largest bitcoin mining in existence in china, trade sites also from there wow very amazing

There is no development in crypto in china. None.
All they have is cheap energy for mining and fake numbers on exchanges.

DIAH PERMATASARI

full member

Activity: 246

Merit: 100

it is worth the development of the world of crypto in china very rapidly once, as evidenced by the largest bitcoin mining in existence in china, trade sites also from there wow very amazing

pinkflower

sr. member

Activity: 868

Merit: 259

Quote from: alani123 on January 14, 2018, 06:58:16 PM

I watched a video today: https://m.youtube.com/watch?v=WWY7A221hwA

China is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.

Careless? They are really careful in maintaining control of their financial system. BTC is a threat to that control thats why they were so keen in having it banned.

Anyhow, why would the Chinese government fully accept something that they cant control?

ganlianshifu1

member

Activity: 392

Merit: 10

Mobile payments in the cause of China's thriving thanks to the development of e-commerce, the use of mobile payment and offline local residents consumption habits have relations, the outbreak of the China mobile payment, also "played" policy support, the mobile payment industry is in rapid development!

alani123

legendary

Activity: 2422

Merit: 1451

Leading Crypto Sports Betting & Casino Platform

I watched a video today: https://m.youtube.com/watch?v=WWY7A221hwA

China is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.

Topic: China is going cashless with more centralization - page 2. (Read 301 times)