This has to be one of the more confused (intentionally?) posts you’ve put out there.
The title has “Cryptocurrency” in it, but the article effectively says nothing about crypto. It does have a lot about the Yuan economy and China’s example of digital monies. A very strange thing.
I couldn’t agree more that we (USA/EU) need a more modern, efficient, and cheap means of moving money around and China’s WeChat and Alipay show how it’s done. Similarly, M-Pesa shows how innovative solutions for digital value systems can play some part in improving accessibility, efficiency and safety in financial services.
One thing has absolutely zero role: cryptocurrencies.
The tip-off here to an at best muddled, at worst special-pleading, is the “Because of onerous American anti-money-laundering regulations” complaint.
There should be nothing onerous about anti-money laundering regulations. Countries in Africa and elsewhere in the developing world are the biggest victims of money-laundering: the illegal resource plundering by corrupt government officials, politicians and corporations is what defines and keeps the problems of these countries from never going away.
If there were ever an odder set of bed-fellows to put in an article and held up for virtuous, China and the Yuan and Cryptocurrencies could not be beat.
Just in case your audience isn’t aware: China has now suppressed and criminalized all crypto-currencies and any blockchain-based business or value store has to use China’s new “Blockchain-based Service Network”, BSN. Effectively, any such project has to be a subnet linked into this “super network” so it can be monitored and controlled. Not just “regulation” Control, with a capital “C”.
I can only imagine that your investors must be guiding you here. China (along with that other liberal democratic transparent entity, Russia) does have a very clear interest and plan to do everything it can to undermine the dollar-based financial infrastructure. Along with the US president, intentionally or not aligned.
I’d ask: Is this a reveal moment, Patrick?
