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Binance CEO Changpeng Zhao comments on China’s Digital currency

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Binance CEO- Changpeng Zhao spoke about China’s digital money project at the BlockShow Asia 2019 event.

Evaluating the steps China has taken over the past few weeks, Changpeng Zhao finds China’s plan to be logical.

China’s Digital Money

During the event, Changpeng Zhao spoke about the Bank of China’s digital money work and shared his personal views on China’s digital money project.

It is a known fact that China’s digital money is centralized. According to Changpeng Zhao, China should not strictly control this digital money because China cannot fight the US dollar if it doesn’t liberate people to a certain extent.

“The Chinese Government wants to strengthen the impact of the official currency worldwide. They want the Chinese Yuan to rival the US dollar. But to do that, they’re going to have to release that digital money a little bit more.”

Other than that, Changpeng Zhao, who talks about digital money projects in general, thinks that these projects are very useful and will not cause any harm,

“Their existence is better than their absence. It’s better to have a hardcoin than not. Libra’s existence is better than his absence.”

Chinese Influence

During the event, Changpeng Zhao spoke about how the Blockchain sector has influenced China.

Chinese President Xi Jinping made statements praising Blockchain technology in recent weeks and stated that China should move forward in this field as soon as possible. According to Zhao, Xi Jinping’s statements should be implemented by the whole world,

“All my acquaintances who looked at Blockchain in time and laughed are now investigating Blockchain. I think this is a very good development for the sector. The more you learn about Blockchain, the more you learn about Bitcoin. Just like getting information about smart contracts and getting information about Ethereum.”

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