Bitcoin Forum

As far as I know the chinese government prohibits WeChat to use cryptocurrencies in their transactions. Probably because the whole chinese economy is highly dependent on money supply control, and cryptocurrencies complicate the process. Maybe that is why NEM (XEM) failed the integration with WeChat. Anyway, is it possible that WeChat starts using its own cryptocurrency, backed by central bank, what do you think?

WeChat and alipay in China is essentially controlled by the state bank!

The Chinese government banned the BTC deal, essentially to develop WeChat and alipay!

China's central bank is studying its own cryptocurrency! WeChat and alipay is just an alternative to the national bank's encrypted currency!

There's no reason why they wouldn't be allowed to use a government-backed cryptocurrency, given that the reason they're opposed in the first place, is that they cannot be controlled. If China comes up with some kind of digital money, you just know it's going to be heavily used in surveillance and is going to be heavily controlled. They might prefer that WeChat users (or all their citizens, really) use such a currency, even, because that's only going to make things easier for them.

China has gone so deep in surveillance, that the moment they introduce their own digital currency is probably the moment when privacy completely dies for its citizens.

I realize this, the question was if they're gonna launch the cryptocurrency (whatever they name it) "inside" WeChat, maybe even beside all transactions in such a way, that a user would never know that his payment was made via blockchain.

basically the Chinese government forbids everything related to critpo and you do not have to worry about it. has no major effect on the crypto industry in the world.

That's why I think this could become real in near future

I think the provinces and banks in China will not allow the use of crypto currency in the messenger. Too much of the policy in the Chinese government in relation to the crypto currency. :(