While crypto community is high on BTC bull market, China is brining us their latest chapter of 1984. What if a government had access to everything you've ever purchased. What if your government knew every single Tx of yours?

It's Legal Tender

Yeah! Things are getting rally bad for crypto in China. Worst part is this will be settign an example for other countries to follow. If we don't push real cash alternatives like https://www.dash.org and https://pivx.org we'll be soon loosing to these central bankers. Don't forget that merchants can be forced to accept central bank digital currency and their will be infinite supply for governments to inflate at will.

The airdrops have been happening on selected cities like Shenzhen (which is an interesting story on its own)

DCEP Overview

Above link will over the following topics. keep in mind that some info can be a little outdated. China is being very fast at releasing these new surveillance tech.

• What is DCEP?
• DCEP is the only legal digital currency in China
• Why is China coming up with a digital currency?
• History and development of DCEP
• DCEP is not for speculation
• Deployment and Distribution
• DCEP will operate on a two-tiered system
• China has completed the backend infrastructure for DCEP
• How will DCEP be tested?
• Foreign firms like McDonalds, Starbucks will also test DCEP
• Merchants must accept DCEP
• Huawei Pay to Support DCEP
• DCEP testing on the general public
• RMB 10 mil in DCEP will be given to select Shenzhen residents
• DCEP testing in Suzhou
• More testing in Shenzhen in 2021
• Which Chinese merchants already support DCEP payments?
• Hong Kong will participate in cross-border DCEP testing
• China Construction Bank launches DCEP wallet
• Tencent to be a major partner of DCEP
• What is the difference between DCEP, Libra, Bitcoin and Cash? A comparison
• NFC Contact based payment
• DCEP ATM machines?
• A mandate to adopt Blockchain
• DCEP is a Centralized Currency
• Trading DCEP? What platforms support DCEP?
• How to buy DCEP?
• Is DCEP a challenge to the US monetary system?
• Appearance on Chinese television debate show “Tiger Talk”
• Implications of DCEP on Bitcoin and cryptocurrencies
• Will DeFi push governments to finally adopt CBDCs?
• When will DCEP be officially launched?

Soon You Won't Even Own Your Money

They may even make it illegal to own forms of money they don't have direct or indirect control over. The only peaceful fight I can see is either being a monk and living in a forest or pushing true decentralized crypto as much as possible. The future of the world is at our hands.

Don't be too euphoric over the price of a currency that can't even scale. Try to get more decentralized social media into oppressed dystopian regimes and make VPN more accessible to people!

Posted Using LeoFinance ^Beta