A higher education institution that trains Chinese Communist Party officials has published a new book about cryptocurrency.
On May 19 a local blockchain news reported that the Party School of the Central Committee of the Communist Party of China (also known as the Central Party School) published the book as part of a book series on disruptive technologies.
Previous entries in the series includes:
- “A Dialogue With Party Leaders About AI”
- “ A Dialogue With Party Leaders About Blockchain”
The book series aims to provide a source for party officials and the general public for learning about emerging new tech trends.
Chinese central bank executives, commercial banking executives and regulators were invited to write the prologue for the new published crypto book.
The book starts with the history and origin of fiat currency while providing an overview of the current credit currency system and its downside. There is also a section on the crypto movement and the birth of Bitcoin.
The book continues also explores on the nature and the future of digital currency and explains in detail what crypto exchanges and ICOs are. It discusses and analyzes regulation issues surrounding these new developments.
Moreover, there is one whole chapter of the book delegated to Central Bank Digital Currencies (CBDCs) explaining the strategy behind the digital Yuan and the impact it would bring to the current payment system.
A full comparative analysis on CBDCs, Facebook Libra and stablecoins is also included.
While warning the risks of super sovereign crypto currencies, such as Libra, challenging the monetary sovereignty of countries with imperfect financial market infrastructure. It proposes counter regulatory measures to address these trends.