facebook

Digital Currency of Cadres Enters its Second Printing in China

Zain Raza by Zain Raza - 02:23 PM Jan 13, 2020
Digital Currency of Cadres Enters its Second Printing in China

A manual guide of 200 pages named “Digital Currency for Cadres” entered its second printing in January after experiencing mammoth demand after the first release. The high demand stems from the fact that there is an air of ambiguity surrounding confusing regulations on cryptocurrencies. Digital Currency of Cadres was initially released in November and consists of 23 articles, which starts off by covering the basics of cryptocurrencies, before diving deep into the details on how they influence global finance. Yinan Zhao, a Bloomberg reporter who covers the Chinese, states : “It is actually a collection of published articles by officials and researchers on digital currencies. The views expressed in the book are not new. I think it meant to be a one-stop-shop sort of thing for officials to get their head around the concept.” Chinese Communist Party officials have taken a consolidated interest in digital currencies, given it ordered a second printing of the Digital Currency of Cadres, just three months after the first release. The book covers cryptocurrencies precisely and describes them as inevitable through the course of history. They’re banking on the book to exhilarate the digital understanding and deepen the roots of the technology.

Digital Currency of Cadres to Solve Crypto Enigma in China

The Chinese have been finicky and peevish regarding the crypto stuff. They first imposed a ban on bitcoin when it went off the roof, then followed it by releasing a primer on blockchain technology mentioning its as inept. As a result, it has continued to keep bitcoin at bay and recently Baidu, a tech-force launched Xuperchain to add a central affiliated cryptocurrency to the country’s roaster. While the Public Bank of China (PBOC) considered cryptocurrency as inexorable, they found that the decentralisation of currency would lead to instability. They want to be in command of the digital currency, rather than letting externally controlled Bitcoin take charge.

About The Author
Zain Raza

Zain RazaZain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Comments

Share On Social Media!

Enter Shared Link

Enter Shared Link

Enter Shared Link

Enter Shared Link

Enter Shared Link

  • Subscribe To Our Newsletter