[2017-05-18]Hong-Kong to Accept Bitcoin or Issue Its Own Digital Currency RMB

[Vladdirescu87]

The Hong-Kong government might accept Bitcoin as official digital currency and issue their own digital RMB. What are the chances of that?

The Financial Services Development Council (FSDC) wants Hong Kong to get ready for digital currencies, naming China specifically and citing "the likely issuance of digital RMB". It was mentioned in a paper called “Hong Kong – Building Trust Using Distributed Ledger Technology”.

You can read the full article and take part in the discussion here: https://coinidol.com/hong-kong-to-accept-bitcoin-or-its-own-currency/

[TraderTimm]

If true, this poses serious challenges to China.

Being a special adminstrative region, Hong Kong has enjoyed a certain flavor of autonomy since the handover from the UK. If this is a "trial balloon" for seeing how it works in a smaller market (compared to the rest of China), before it being completely adopted by China nationwide, then it is a big deal.

But like all things in bitcoinland, we must first wait to see the proof before speculating about the implications.