China is preparing for the launch of a blockchain that supports your criptomoneda national, but the world should not get the idea that this is going to look like Bitcoin. Technologies blockchain “made in China” will be centralized, since its current political system does not allow it any other way.The past 25 October, the president of China, Xi Jinping, confirmed that the nation is interested in leading the development of technologies blockchain at the global level. The news generated a huge national impact, popularizing the searches of the term “blockchain” on Wechat and revaluing companies dedicated to this sector. The words of Jinping confirmed that the Chinese government was talking very seriously when raised by the first project to issue their own criptomoneda.While some people celebrate this milestone as a step forward for the ecosystem, it seems to me important to highlight that no blockchain government will function as does Bitcoin. The ideals of the criptomoneda of Satoshi Nakamoto are not compatible with the centralised exercise of power. The forms of governance that have our States today do not allow the issuance of a currency that has the same characteristics as Bitcoin.In case outside little, in the case of China the situation is even more complex. Not only is the people’s Bank of China (a centralised institution) who is apparently in charge of issuing the new criptoactivo, but this project is promoted by a government deeply driver. The asian giant does not have a typical democracy, as we know it in countries like Argentina, France or Canada. China is a unitary State and, therefore, one-party. It seems to Me that this way of exercising power can not be passed at stop when to anticipate how it will work this blockchain government.
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All at the hands of the power
Does it really exists a form of governmental power is not centralized? It is true that each one of the citizens of a free country can —by means of voting is universal, direct and secret— choose their representatives. In a democratic State all people can participate in government decision-making. However, it is performed in an indirect way. It is the representative, whether president, congressman, or governor, who is making the decisions based on the needs of the society. We are not all of us who decide for the country, but one in behalf of all.Bitcoin works thanks to each and every one of its users, because the issuance of new cryptocurrencies, the development of its protocol, and the decision of this network is fully decentralized. Source: roibu / stock.adobe.comEl aim of this article is not to question the political representation, much less democracy. What I wish to emphasize is that all forms of power current is centralized, while the operation of a criptomoneda like Bitcoin has to be, yes or yes, decentralized. Bitcoin would not be what it is today if it were not a technology that benefits from the decentralization of power and information. It is not feasible that the Central Bank of a country, in this case the people’s Bank of China, issued a criptomoneda national and we believe that this will not be centralized. Bitcoin solves the need for a higher entity has to issue a currency of value, generating a network of miners to confirm transactions and emit bitcoins.If a currency is issued by a Central Bank is not your users, but from the government. The Communist party of China knows this well and, therefore, does months ago stated that the new criptomoneda has the ability to give more control to Beijing about its financial system. The people’s Bank of China seeks to replace the cash in circulation for the new digital currency, which allows you to monitor transactions, person-to-person. That is to say, you change a highly fungible (anonymous) as the cash, a criptomoneda traceable. If it were a blockchain public and decentralized, like Bitcoin, it would be very difficult for the authorities of a country can monitor each one of its citizens.
More control to the State
It can be said that one of the objectives of the criptomoneda being developed by the people’s Bank of China is to further control its citizens. This is not surprising if we take into account the political history of China in the present. Power in China is divided between the State, the army and the Communist Party. Xi Jinping is the general secretary of the Central Committee of the Communist Party, chairman of the Central Military Commission and president of the Republic. That is, a single man occupies the three position of power higher than the Chinese policy in order to avoid the disagreements and infighting.In case outside little, as we have said above, China is a nation-party. There is only a single legal political party in the country, which controls both the government, as the places of work and institutions of education. The State also conducts community consultations, such as the universal suffrage. This form of government limits the power of decision of the citizens while keeping in constant surveillance.In China strict control over the power and civic freedom is found in struggle since many years ago. In 1989 he recorded one of the largest protests pro-democratic China, which was held in the Plaza of Tiananmén.The unforgettable protests the Square Tiananmén and the current unrest in the democratic activists in Hong Kong are living samples of how the Communist Party of China wage a battle for the control of any form of power. Because of this, it is not strange that the blockchains public as Bitcoin or Monero are tools uncomfortable in the asian giant. The principles of transparency, privacy, and decentralization provide to the users of the cryptocurrencies the possibility to empower themselves. An individual who can control your own information and not rely on the State, is a free citizen. For me Bitcoin and the Communist Party of China are two drops of water and oil that may not be reconciled.
Bitcoin does not have the blessing of the government
Although Xi Jinping has not made any statements about what they think about Bitcoin, the chinese authorities have fought a tough battle against the criptomoneda from three years ago. The reason is very obvious, Bitcoin can not be controlled by the people’s Bank of China. It is true that the criptomoneda of Satoshi Nakamoto is a guest uncomfortable in any country. However, the strivings of the chinese government to regulate and prohibit the trade of cryptocurrencies is unprecedented.In the year 2017, the Central Bank of China announced for the first time the conduct of an inspection to the houses of change of cryptocurrencies national. The measure generated a spiral of fighting that ended in the termination of operations of the three exchange platforms in China more important. If that weren’t enough, that same year, the authorities banned the performance of Initial Offerings of Currency (ICO) throughout the territory.The year 2018 was even more bloody for the market, since a new political anti-cryptocurrencies forced the closure of 88 houses of change. The web pages enabled for the purchase and sale of Bitcoin also were blocked at the national level and events associated with the ecosystem, is totally prohibited. Despite the regulations, the trading of Bitcoin is not ceased in the region, and today is sustained thanks to the exchanges with Tether. These constant clashes can also serve to presume that the government of China will not inspire your criptomoneda national in Bitcoin.Disclaimer: the views and opinions expressed in this article belong to the author and do not necessarily reflect those of Breaking News.