Life imitates art: Bitcoin upstaging Chinese Yuan

A bit lost in the Season Two skirmish was the economic fallout of the “Five/Nine” hack – we see that protests are common place, waste management is virtually non-existent, E Corp credit cards are extinct with their accompanying ATM’s largely limited. Most importantly is a major subplot involving the US government’s refusal to bail out E Corp – leading to E Corp CEO Phillip Price going to bed with the Chinese, particularly Whiterose (or Minister Zhang to be precise) who “generously” loans the company a massive, zero-interest 2-trillion loan. Price would then focus his efforts in launching a program for their fledgling cryptocurrency called eCoin to eventually replace dollars (“Hard cash is fading”, he says).

In real life, the United States government is behind on the Bitcoin discussion with the “Blockchain Caucus” just being formed recently to educate members of congress on the intricacies of digital currencies before exploring legislation in the future. At that pace, Phillip Price’s proposal would be practically shit, as well as E Corp.

What’s fascinating is that over at the The Red Dragon, the Bitcoin continues to get stronger to the point that it’s strongly mirroring the fictional eCoin’s ambition of usurping cash. In a Bloomberg article today, it’s reported that Bitcoin has surged to a three-month high while the Chinese Yuan is depreciating rapidly, forcing traders to invest more on the booming digital currency. Things could get a lot worse too, with US dollar interest hikes on the horizon.

Looks like China could use Minister Zhang’s Machiavellianism right now!

Whiterose

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