Bitcoin Praised For Financial Success by Former China Central Bank Exec

Wu Xiaoling, the former Vice President of the People’s Bank of China (PBoC), has recently come out to praise Bitcoin, of all things, for its “commercial success.” However, Wu was quick to state the perceived shortcomings of the Bitcoin network, as well: The fact that it’s a private currency.

Due to this, Wu noted that Bitcoin can only be limited in the private currency field, and cannot replace state-issued fiat currency. Even so, Wu expressed her optimism about blockchain technology as a whole, painting out a future where digital currencies are adopted all across China.

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