Chinese Economists Still Divided On The Future Of Crypto: Survey

The internet giant Tencent has conducted a survey which was proven to have some expected results which we are covering in our crypto news today that show the economists experts from China cannot agree on the future of crypto and blockchain.

The survey was sent to 100 chief economists from well-renowned banks, universities and financial institutions by the Tencent Financial Science and Technology department. All of the participants were asked the same question about the monetary policy of the Chinese government for 2019 and other factors such as the nature of the Chinese yuan and its future volatility.

The results show that the opinions are divided and according to Tencent, there are approximately six areas in particular where the participants disagree.

For example, slightly more than a half which is about 51 percent of the respondents would gladly support Bejing in the issuing of a central bank digital currency or a blockchain-based version of the national currency-the yuan.

The other 40 percent said they are not going to support a government-backed digital currency. The economists are divided into three groups. 33 percent of them believe that blockchain technology is extremely important, 32 percent of the respondents remain neutral and 19 percent believe that blockchain is not important and should not be endorsed.

China’s central bank or the People’s Bank of China is still trying to find the right time to issue its own centralized digital currency since it has been considering the option for a longer period. The People’s Bank of China has also planned to hire few crypto professionals that have experience in blockchain,  security, and cryptography and to start working on their own digital currency.