China, cryptocurrencies and the rise of the digital yuan

[gwolf666]

A topic that should be given considerable attention is China’s policy towards cryptocurrencies and the tokenization process. In relation to this topic and in particular of interest for me is that while the world is still trying to figure out the best practices for regulating the industry, China has already introduced its own digital money in the form of ‘digital yuan.’ Personally, I believe that the introduction of the digital yuan in China is indicative of the government’s pragmatic policy of either suppressing the development of cryptocurrencies or letting them go but utilizing blockchain technology in order to enhance domestic financial control. In fact, asset tokenization within China is described in the article as an ‘opportunity for China’s economy transformation at a state-controlled level.’ In relation to this topic, the most significant element in my opinion is that this particular policy trend within China can become an example that needs to be followed. In that respect, personally, I believe that the impact of the digital yuan in China in relation to asset tokenization is that in the future, the financial future in general will be more ‘hybrid.’