(Rejected) China Communist Party to Include Crypto and Blockchain Curriculum in its Education
China’s surging ahead with its cryptocurrency aspirations, missing no boxes along the way.
In a new, potential bullish development this week, an educational book publisher included crypto and blockchain as part of its curriculum geared towards Chinese government officials.
China is Not Stopping
As per local publication Weixin on May 19, the Central Party School of the Communist Party of China (CCP) published the book as part of an ongoing series on disruptive technologies, which includes AI, blockchain, machine learning, and another upcoming tech.
Previous editions included chapters called “A Dialogue with Party Leaders about AI” to “A Dialogue With Party Leaders About Blockchain.”
The publisher aims to become a distinguished, trusted source on the topic of technology trends and markets itself to both party officials and the general public. As the report noted, the prologue on blockchain and cryptocurrency was co-authored by a number of diverse personalities, including high-ranked regulators and banking executives, both central and commercial.
The book goes back to the early ages to explain fiat currency, providing readers with a definite overview of how paper money came into being, the creation of credit and lending, how debt plagued the world, and finally, a number of negatives about the current financial system.
The above then leads to a section on cryptocurrencies, digital assets, and the birth of Bitcoin.
Other chapters move on to explaining tokenization, ICOs, and an in-depth explanation about crypto-exchanges and their relevance in cross-border trade. Various regulatory stances and issues regarding digital currencies are discussed in the final chapters.
Digital Yuan in Full Flow
The book has allocated a new chapter to the “Digital Yuan,” China’s ambitious CBDC project. While not strictly a cryptocurrency, the upcoming project is a significant step for state-backed digital currency projects; a huge move away from the several-decades-old paper and fiat system.
Various go-to-market strategies and the impact of a Digital Yuan are addressed and discussed, presumably similar to what Blockchain.News reported here and here.
Meanwhile, the dangers of using commercially-issued currencies like Libra and other tokens are mentioned. The book compares such projects as a threat for state-issued money, as the former seemingly challenge financial markets with their own “imperfect” infrastructure.
The book is a huge move for China’s financial market. As Blockchain.News reported last month, the country has extensively tested its digital yuan and launched several regulations that seem to bolster crypto-related activity; such as relaxing regulations for blockchain projects in Ya’an and earmarking a “blockchain incubation” zone in Hunan.
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