|In a way I hope this is true. China will chase away their most talented programmers to greener pastures in the EU and the US. |
It also makes me wonder what the PBOC will do with their digital Yuan project which was reputedly leading the world in CBDC technology.
BTW the above link references MIT's Digital Currency Initiative (DCI). However the real work is being done by MIT's Connection Sciences Department (the heavyweight behind the original TCP/IP protocol which opened the internet in the mid-90s...remember the walled gardens of Compuserve, AOL, Yahoo, etc? Quant and MIT are spear-heading the effort with assistance from US Gov (a.k.a. Boston FED), Intel, Juniper, and others).
Incidentally Quant just recently hired Rafael Belchior of Technico Lisboa (University) who you will note is listed as a co-author of the paper linked above.