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PBoC Digital Currency Director Says Blockchains Need Centralization

China’s digital currency director said that excessive decentralization is a fatal flaw that spells doom for Bitcoin, Ethereum, and many other public blockchains. Writing in an op-ed published by Chinese-language business news outlet Yicai, Yao Qian — who leads the People’s Bank of China (PBoC) digital currency research institute — argued that is impossible to

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