“BRI reaches as much as 65% of the world’s population, while covering half of world gross domestic product (GDP), 75% of all known energy reserves, and a quarter of all cross-border goods and services trade.” ~ Deutsche Bank

The digital yuan could be weaponized as a tactical or strategic weapon. As it expands across the new Silk Road, China would be able to implement total surveillance over the economic activity of more than half the world’s population, tracking everyone’s spending habits and relationships. By holding authorization keys, China could freeze transactions it doesn’t like or seize digital assets by locking customers’ mobile wallets at will. Precursor systems are already rolling out in China, where a “social credit” system punishes or rewards individual behavior. It has already blocked millions from buying airline tickets.

Image source: https://www.reddit.com/r/interestingasfuck/comments/ca5720/chinas_social_credit_system/

Quantum Computing & Cryptography

If blockchain can be broken by quantum, all cryptography can be broken. And that’s a much bigger societal risk. Think about your bank, your browser, your smartphone or your laptop — computing has been integrated into all levels of our life. All those levels rely on existing cryptographic algorithms and are vulnerable in one way or another.

One of the promising aspects here is that quantum actually makes excellent cryptography. There’s a thing called quantum cryptography, and it’s very different from our understanding of how classical cryptography works. Quantum cryptography is used today in a small amount of applications. Some interesting research in this field shows that while quantum can break existing cryptography and make it useless, it actually introduces a different forum which could be used to fix the problem. I think it’s fascinating that the very thing that breaks cryptography also fixes it.

“…We could see quantum cryptography be the answer and even be actually integrated into future versions of blockchain, making blockchain a quantum-based system itself…Humans are awesome. We will come up with other ideas. It won’t just be quantum fixing the same problems it creates. And I’m also very confident that blockchain will evolve in the decades ahead.” ~ Dr. Jonathan Reichental, CEO of Human Future, a global business and technology education, advisory and investment firm.

Akoin

What to do after lighting a million homes in Africa?

One Africa. One Koin.

Akoin is a cryptocurrency powered by a marketplace of tools and services fueling the dreams of entrepreneurs, business owners, and social activists as they connect and engage across the rising economies of Africa and beyond; created by visionary global artist, change-maker, innovator and humanitarian, Akon.

Read the Akoin whitepaper.

Image by Gerd Altmann from Pixabay

Further Reading:

(1) China’s Digital Yuan Is an Economic Cyberweapon, and the US Is Disarming

(2) Talking Digital Future: Quantum Computing and Cryptography

(3) AKoin

The post Digital Yuan, Quantum Computing & Cryptography, AKoin appeared first on Blockchain Insider.