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Cryptocurrencies

China Communist Party has published a new book on cryptocurrencies

  • China’s Central Party School of the Communist Party has published a book on cryptocurrencies. 
  • The book is about the nature and the future of digital currencies. 
  • It also explores the risks arising from different types of digital currencies and the proposed regulatory solutions.

According to a recent report, China’s Central Party School of the Communist Party has published another book on cryptocurrencies. The authors of the book include the former Vice Chairman of the National Social Security Fund Council, the former Chairman of the country’s Construction bank, a former Vice President of the People’s Bank of China and other ex high-ranked officials. 

The book entails the origin and history of fiat currency and discusses the current credit currency system. This is followed by a section on the crypto movement and the birth of Bitcoin. Additionally, it explains what crypto exchanges, ICOs and stablecoins are. It also explores the risks arising from different types of digital currencies and the proposed regulatory solutions.

An entire chapter of the book is dedicated to central bank digital currencies (CBDC). It outlines the strategy behind the digital Yuan and its impact on the existing payment system. The book also includes criticism of several foreign currencies, including Facebook’s Libra project.

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