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I'm not surprised. China is a huge and important country in the world, with an economy and geopolitics of their own. I think that coin has a great prospect, because we all know how China has been beating the whole world in terms of economy, and their own coin would be a huge blow as well.

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I think that if a country overtly ventures into the Cryptocurrency market and launches a state owned Cryptocurrency then it will be the most bizzare thing that could happen in the economic scene. I dont believe that this will happen and i guess it is just a rumour right now. If a country decides to launch a state owned Cryptocurrency then there will be consequences around the World and it will also adversely affect the Economy of that country.I dont think that a huge economy like China would take such a big risk.

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I feel like it wouldn't succeed well compared to other cryptocurrencies. The main allure to cryptos is that they are decentralized and nothing controls them. I imagine the cryptocurrency will be controlled by the Chinese government (because almost everything is state-controlled in China these days haha), which will turn off some potential users and investors.

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It depends. It could just be another way of introducing an alternative to credit, I think. China's really big on online payments these days, given that a lot of stores in the bigger cities accept QR payments and even take paypal at times. China's looking into ways of expansion, and it's not entirely farfetched to think that they might try to venture in that direction. A lot of the bitcoin miners were in China, and some of them managed to get out with really big profits.

It'll be interesting to see if they push through though. 

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