Why China's New Digital Currency Raises Privacy Concerns | WSJ

As China moves closer to rolling out its new digital cash, there are concerns the government will track every transaction––not just of citizens but of foreign companies in the country. WSJ travels to Chengdu to see this money revolution in action. Photo: Lorenz Huber for The Wall Street Journal

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#WSJ #China #Yuan

[sbian]

It is funny how people use credit cards and cell phones everyday still believe they have privacy.

[nntymnw]

Once the government can control your bank account, you cannot fight the government. It s not only about privacy, it is mainly about freedom

[shinchan-F-urmom]

Edward Snowden and Assange showed the world what Freedom and privacy is

[kanden]

YouTube auto subtitles: “Speaks foreign language.”

[JYYP-jzqq]

yea meanwhile in the US everyone is using credit cards like the companies don't use your shopping data to target ads on you.

[FernandoBelloEchevarria]

I'm surprised about how much we care the China's people privacy! What about our privacy!??? Aren't the bank obligated to show my credit card transactions?? (If the government ask??) I expect better WSJ

[fattysumpang]

Trying to imagine what WSJ will say when EU or USA have their own digital currencies

[tomaso]

People who argue that there isn’t a point to stopping this because we don’t even have privacy now are part of the reason why we don’t

[wy]

As if the US govt doesn’t know where money goes domestically, worse with US’s control over SWIFT. Pathetic to criticise China’s advancement.

[sulaymanceesay]

America is toking about Privacy what a shock 🤯

[thaisdocarmoarantes]

i don't understand the concept of this video like... privacy hasn't been a thing for years now

[fullmetalalchemist]

China: *sneezes WSJ: *human rights violations

[jarurotetippayachai]

When we go online, we have already sacrificed the privacy as seen in the case study of Facebook.

[roguegenesis]

What they don't tell is that, while Chinese Digital Yuan tracks you and "gives privacy concerns", the same thing was happening with Alipay, ApplePay, WeChatPay, GooglePay for the last few years...
So I don't know what's new here, do you think they don't share their data with the govt?

[SoulEscalator]

I think if Chinese digital currency “not raises privacy concern” is a news and people will say wow, China is doing something different this time, but “raises privacy concern” is a common sense and not worth covering.

[noahpolicarpio]

How is this different to now? Doesn't the government still have access to bank details anyway?

[seekian]

If this was the US, WSJ would say this is innovative. But since it is China, it is 'concerning'. LOL #assange #snowden

[gregnixon]

It will be difficult to save if the govt tells you to spend your money within a certain time or it’s forfeited.

[windingpath]

Tracking is just the first step. The goal is to have total control of every penny circulating.

[Turulcky]

"The cons and cons of China's new digital Yuan"