Wednesday, April 12, 2017

How then will the PBOC drop the yuan into the sandbox?

BitCoin:2017 has seen quite the shakeup in regards to Chinese bitcoin exchanges as each company has been facing the regulatory wrath of the People’s Bank of China (PBOC). Ongoing inspections and discussions have led to stricter AML/KYC regulation, and Chinese traders have not been able to withdraw bitcoins for over two months. Chinese trading platforms have also revealed new types of KYC verification processes like on-site validation and remote video identification.
Here we see the collision we need to manage.  

PBOC had all these grand plans for their digital version, only to discover no arbitrage automated S&L technology, and the full bloom of the sandbox, and the organized coalition of secure element vendors.   Let us state a clear warning, the sandbox is bigger than the PBOC, central banks will be sandboxed.  No more trilemonading.

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