Blockchain and Cryptocurrency: People, Culture and Tech
In the well-heeled Chinese city of Shenzhen, shoppers are painfully aware of the food safety scandals that have emerged in recent years. Gangs have been caught red-handed selling tons of frozen meat that was more than 40 years old, and hundreds of people have previously been sickened after eating pork laced with steroids to help pigs grow faster.
Here’s a beautiful turn of phrase from a Chinese central bank executive talking about its forthcoming national digital currency: “controllable anonymity.”
Like 1960s campus radicals, Bitcoin maximalists are enthusiastically praising the wisdom of a leader of Communist China. That’s because President Xi Jinping called for his country to “take the leading position in the emerging field of blockchain.”
Chinese officials and investors have been making a full court press on blockchain and cryptocurrency development ever since President Xi Jinping’s comments on October 25 that China must “take the leading position in the emerging field of blockchain.”
