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From Scepticism to Endorsement: China’s Move To Cryptocurrency — Paul Antonopoulos

Summary:
So-called digital currency (it's not currency–yet) is about a type of payments system that functions on the basis of blockchain transactions. If a central bank issues currency using blockchain it will be a genuine digital currency. It looks like it is coming, and at least one country is already doing it (Venezuela).The take-away is that blockchain payment is highly efficient and will eventually drive out less efficient systems. China apparently gets this, and China is already way ahead in terms of digitizing payments, having leapfrogged over traditional methods.Fort Russ NewsFrom Scepticism to Endorsement: China’s Move To Cryptocurrency Paul Antonopoulos

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So-called digital currency (it's not currency–yet) is about a type of payments system that functions on the basis of blockchain transactions. If a central bank issues currency using blockchain it will be a genuine digital currency. It looks like it is coming, and at least one country is already doing it (Venezuela).

The take-away is that blockchain payment is highly efficient and will eventually drive out less efficient systems. China apparently gets this, and China is already way ahead in terms of digitizing payments, having leapfrogged over traditional methods.

Fort Russ News
From Scepticism to Endorsement: China’s Move To Cryptocurrency

Paul Antonopoulos
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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