Are there any countries with a communist command economic system that have embraced digital currencies?

3 answers

• Feb 18, 2022 · 3 years ago
  Yes, there are countries with a communist command economic system that have embraced digital currencies. One example is China, which has been actively exploring the use of digital currencies. The People's Bank of China has been developing a digital currency called the Digital Currency Electronic Payment (DCEP), which is expected to be used for everyday transactions. The Chinese government sees digital currencies as a way to enhance financial inclusion and reduce reliance on traditional banking systems.
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• Feb 18, 2022 · 3 years ago
  Absolutely! Cuba is another country with a communist command economic system that has embraced digital currencies. In recent years, Cuba has seen an increase in the use of digital currencies, such as Bitcoin, as a means of bypassing economic restrictions and accessing international markets. The Cuban government has recognized the potential benefits of digital currencies in terms of financial inclusion and economic growth.
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• Feb 18, 2022 · 3 years ago
  Yes, there are countries with a communist command economic system that have embraced digital currencies. One notable example is North Korea, which has reportedly been using digital currencies to evade international sanctions and generate revenue. However, it's important to note that the use of digital currencies in North Korea is highly secretive and not officially recognized by the government.
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