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Worries Arise For China’s Cryptocurrency But The Government Couldn’t Care Less

 
Worries Arise For China’s Cryptocurrency But The Government Couldn’t Care Less
Breaking News / Cryptocoins
  • Users who start using the centralised digital currency will be apparently be guaranteed ‘controllable anonymity’.
  • Several worries have been raised these past few weeks in regards to China’s government-backed digital asset.
  • Jack Lee suggested that cryptocurrency in question could be shown off within the coming two to three months.

Several worries have been raised these past few weeks in regards to China’s government-backed digital asset but the country has just shrugged them off…

Controllable Anonymity

According to Mu Changchun, the head of the digital currency research institute at the People’s Bank of China (PBoC), users who start using the centralised digital currency will be apparently be guaranteed ‘controllable anonymity’ so as long as they are not undergoing any illegal activities.

According to Reuters, Changchun recently attended a conference in Singapore, where he said they were not “seeking full control of the information of the general public”. Users who are out for a specific level of privacy will understand it.

The digital currency research head stated:

“We know the demand from the general public is to keep anonymity by using paper money and coins … we will give those people who demand it anonymity in their transactions.”

Speculation and theories are on the rise more than before when it comes to cryptocurrency and blockchain tech. 

The founder and managing partner of the privacy equity company backed by Foxconn Technology Group, HCM Capital, Jack Lee suggested that cryptocurrency in question could be shown off within the coming two to three months.

Lee recently spoke to CNBC revealing that most of the main work had been completed for the launch of the cryptocurrency.

“So, they already have all the system and the network ready. I think you will see it very soon, in the next maybe two to three months.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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