The central People’s Bank of China (PBoC) could be set to make use of smart contracts in its digital yuan project – an indication that blockchain technology could well end up playing a larger role than expected in the e-CNY’s future.
Although the Chinese government – and President Xi Jinping – have publicly embraced blockchain as a growth engine, the PBoC has been insistent on the fact that the digital yuan is not built on blockchain technology. Cryptoassets, meanwhile, have been shunted to the sidelines in China. The mining of tokens has been outlawed and most activities involving crypto (such as trading and payments) have been banned. A first crypto crackdown was enacted in 2017, with a second following last year.
Smart contracts are typically used in the crypto space on blockchain networks – and allow users to buy and sell products or services using a cryptoasset without the need for a third party. Although smart contracts are used on all sorts of blockchain networks, they are...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...