As China prepares to complete the development of its digital currency issued by the central bank, the country's Communist Party wants its senior officials to learn more about cryptocurrency and blockchains and has therefore approved the publication of a new book specially designed for its cadres.
China's Blockchain Day
In October 2019, the Chinese President gave his approval to the blockade in a speech to members of the Politburo.
Following Xi Jinping's call to develop projects in this area, China was keen to accelerate its investments in the blockade.
A day for the Blockchain or the 'Chinese Blockchain Day' is even conceivable.
The Communications Industry Association, an agency affiliated with China's Ministry of Industry and Information Technology, is proposing that 24 October become the day designated to celebrate the technology behind cryptosystems such as Bitcoin.
According to Wu Qi, a senior researcher at the Beijing-based Pangoal Institution which is a China-based public policy think tank that is joined by prominent scholars and senior practitioners from China and elsewhere:
'It's certainly a good technology and it can be used for many good causes, including the prevention of financial fraud. But it is certainly not intended for crypto speculation'.
Cryptocurrency is inevitable?
China has just published the Digital Currency: A Reader for Executives, a guide to blockchain technology and cryptocurrency, which will give you all you need to know about blockchain technology and cryptocurrency.
The 200-page book was published in November last year and went into its second printing in January. The strong demand reflects the Chinese government's interest in cryptographic currencies in a confusing regulatory environment.
It was published by the publishing agency of China's state-run People's Daily. The book includes 23 essays written by experts from the Central People's Bank of China.
According to a text on the cover of the book:
'Digital currency is inevitable in the course of history'
The authors cover topics ranging from the basics of cryptos to the details of blockchain and the influence of these technologies on finance and the world monetary system, according to a Bloomberg report. The authors boldly state on the cover of the manual, 'Digital money is inevitable in history,' and say the book was published to 'help Party cadres deepen their understanding' of cryptocurrency.
Readers can also learn about the future use and potential impact on the world despite the fact that trade has been banned in the country for years.
Yinan Zhao, a Bloomberg journalist told Cointelegraph:
'This is actually a collection of articles published by government officials and researchers on digital currencies. The views expressed in the book are not new. I think it was a kind of one-stop shop for public servants to get acquainted with the concept'.
Written by: Laetitia Project Manager
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