The central bank of China is looking into developing a national cryptocurrency. Do you think this will hurt the dollar?

[quote]CHINA’S central bank is recruiting blockchain experts to step up efforts to develop an official digital currency.
...
PBOC set up a special team in 2014 to look into digital currencies, research the legal, monetary and technological framework, and study the impact of digital currency on the economy and financial systems.

However, PBOC Governor Zhou Xiaochuan said in a previous interview with Caixin magazine that there’s no timetable for the launch of the digital currency.[/quote]

http://mobile.shanghaidaily.com/
business/finance/PBOC-aims-to-
develop-digital-currency/shdaily.shtml

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Cierzo · M

Certainly it may hurt the dollar if such a big country like China stops using it.

What I wonder is you can call it a cryptocurrency if it will be under control of a national central bank and therefore its circulating amount and valued being artificially modified.

Invisible · 26-30, M

@Cierzo: Limiting the amount of a currency isn't the point, nor is manipulating the value. The real gain in my opinion is in creating honest markets that can't be manipulated by phony futures contracts that can't even be used to collect real assets.