Topic: China’s Digital Currency Will Allow Consumers ‘Controllable Anonymity’ - page 3. (Read 515 times)

Obviously not true, "control" is the one thing they don't want losing, much less to indentured peasants... This is a talk like it was monero, most people seem to be unaware that with Monero your transactions are not anonymous unless you use a specific (cli only wallet) setting. If China adopted XMR then yes, it would be true. I don't think they cloned Monero, but even if they did they would have to release the code with their modifications for the community to verify it, as most likely such "anonymity" can't possibly include "The State". Which renders the whole thing useless in the first place.

Venezuela has yet to release the modifications done to Dash for Petro. It is an obligation by Venezuelan law, but they are ignoring it (laws are overrated here anyway, what the leader says its obeyed, period). Take Dash, change its name, run a couple of nodes in a single datacenter and, oh, make sure it has infinite supply, and you get an idea of what that coin is. Oh and no wallets, only a single online wallet.

One would think the Chinese would do better, and i think they probably will, but not in that regard. Anonymity is not something a police state needs, or is willing to concede giving. Back in my country, anonymity is forbidden (in the constitution, no less), imagine that... You'd think the Chinese have more freedoms in their "communist" constitution?

Right to Anonymity i think is even a constitutional right in America, but unconstitutional here. What is it in China?

Speaking of controlling anonymity, you can already do that with Bitcoin. Disclose your wallet address if you want. Maybe politicians should, or NGOs, or anyone that would want their wallets audited for whatever reason.

The People’s Bank of China (PBOC) is the first major central bank to hint at issuing its own digital currency. Consumers fear an end to the anonymity of cash, but officials say that their goal is ‘controllable anonymity’.

Based on data from patents that have already been filed, Chinese businesses and citizens would download digital wallets which can be replenished from bank branches and then used to make digital cash payments.

Read the full news here

I don't know what are you going to say about this guys regarding "controllable anonymity". Do you think it's a good thing for Chinese consumers? As China is pushing to invest big time on blockchain by 2023, along with removing the "cryptocurrency mining" ban and circulating a Bitcoin article to their citizens, I think it's a good sign.

I strongly believe that Bitcoin and other cryptocurrencies would be massively adopted much faster as China is back in the game as one of the biggest crypto players around the corner.