Chinese Government Official Believes Bitcoin Can Coexist with Government Money
At a recent speech in Hainan, China, Chinese government official Wu Xiaoling addressed the Sanya International Finance Forum and gave a speech titled, "From an information network to a financial network - How the finance industry can make use of information technology." Wu Xiaoling is the former deputy director of China's central bank, the People's Bank of China (PBOC). Wu's former employer, the PBOC, has previously taken a strong stance against Bitcoin and its use by Chinese banks and third party payment processors, causing some turmoil and closures. Also read: PBOC Official On....
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Wu Xiaoling, former deputy director of the People's Bank of China (PBOC), recently came out in support of Bitcoin and likewise cryptocurrencies, saying that they all can coexist with government money. "Coexistence of private money and government money will be a normal part of our world," says the translated version of her quote. "A new value transfer network based on open-source, distributed information technology will reduce costs and increase efficiency; it is worthy of exploration and development." By far, Xiaoling is the highest-ranking government official in China that has openly....
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