China’s Ambitious Blockchain Plans Could Cast US Dollar Out of the Game

China’s Ambitious Blockchain Plans Could Cast US Dollar Out of the Game
A visual representation of the cryptocurrency bitcoin at the “Bitcoin Change” shop in Tel Aviv, Israel. Jack Guez/AFP/Getty Images
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Commentary

China’s largest news portal, Sina.com, recently made this statement in a headline in its financial section: “For Americans, blockchain is a technology or a philosophical practice. But for Chinese, blockchain is an opportunity for China to change lanes and surpass competitors.”