The collapse of the Terra stablecoin and its sister cryptocurrency Luna in May resulted in losses to hundreds of thousands of investors worldwide.
What Singapore and Hong Kong are doing appears to be centralised, contradicting the permissionless principle of the cryptocurrency movement.
TOKEN2049 stood out for its forward-looking, upbeat approach, covering issues including the slump in cryptocurrency valuations, the rise of stablecoins and the opportunity presented by the Crypto Winter.
Busan is now changing its strategy and signed deals in the last two months with Binance, FTX and Huobi to build the country’s first city-backed digital asset exchange.
China’s controversial social credit system has raised concerns over how the state might use the e-CNY to monitor people, control dissent and incentivise or dissuade certain behaviours.
Now it’s clear that just as threads spun from the pupae of silkworms drove the growth of a global trade network, China’s digital yuan may weave an enduring international system of finance.
When it comes to blockchain, China appears to have built a formidable lead in a technology of consequence.