Economic experts from China reportedly do not agree on the future of the Blockchain according to a survey from internet giant Tencent.
The survey was conducted by Tencent’s financial science and technology Think tank where they sent questionnaires to a 100 chief economists stationed in Universities, Banks, and research institutions.
The participants were asked to give their individual takes on the Chinese government’s monetary policy for 2019, as well as factors such as the Yuan’s future volatility.
The results showed differences of opinion among the respondents. Tencent took note and highlighted six main areas of conflict.
Some of the opinions aired out by the respondents showed that roughly half, 51 percent of respondents to be exact, supported the idea of Beijing issuing a central bank digital currency (CBDC), a blockchain based version of the Chinese Yuan.
40 percent of the respondents said they would not support a digital currency backed by government.
When it came to the blockchain, the results mirrored those of other recent surveys. Economists were split three ways on the issue. 33 percent of the respondents believed the technology was highly important, 32 percent expressed a very neutral view, and 19 percent were unenthusiastic about Blockchain.
As crypto publication Cointelegraph previously reported, the People’s bank of China (PBoC) which is China’s central bank continues to explore the possibility of issuing its own centralized digital currency, which will be in line with various other jurisdictions worldwide. The PBoC hired four crypto experts with experience in Blockchain, cryptography, security and chip design.
Certain central banks and governments looking to have in place centralized digital currency sounds like great news in the ears of some crypto enthusiasts. For other crypto enthusiasts though, it sounds like a loud cringe inducing scratch of floor. This is because; the whole appeal of cryptos was in their decentralization. Centralized digital currencies are not much different from the fiat currencies we are all used to, according to some.
Image from pexels
