Well someone decided to exercise at 40 degrees |
Li Kun had IM’d me to drink tea at his place so went by myself at 4.30. We had a really good chat about the economy and I explained my interest in cryptocurrency which is always a slightly dodgy topic here as although there is a huge crypto community in China, the very fact you see something in it sort of puts you against the government-controlled ren min bi. I treaded carefully and mainly pointed out its advantages and not fiat’s disadvantages. He seemed to get it.
But the reality of fiat here had dawned on me, and I explained how I couldn’t use WeChat pay without a Chinese back account, something that would prove hard to get on a family/tourist visa. This made Li Kun call a mate who works in the bank to see if he could sort it but apparently it wasn’t that easy. I had to make my excuse to take the kids to the guangchang so took advantage of this to invite Li Kun and his family to eat where we often have since the guangchang has become a regular thing.
I picked up the kids at 6.30 and left them to do their thing in the guangchang while getting to the food place and waiting for Li Kun and family, who duly arrived and ordered food on my part. After 20 mins the kids had had their fare and went straight back to skate, and took Ava, Li Kun’s first daughter, with them, while we engaged in a couple of beers while his wife looked after the one-year old.
As we had a bit of time Li Kun told me he had a dormant bank account and I could use that to sort out WeChat pay. Well it was a long, convoluted path that took nearly an hour but afterwards I had a “valid” account, albeit it with his name as the securitor. We tested it by sending each other a bit of money and it worked! This was a significant step in me feeling I belong here as now I’ll be able to pay for stuff like Xixi’s rollerskate hire by phone and more importantly not be weighed down by small change. At the cost, quite a big cost, of some conglomerate knowing exactly what I am purchasing and building up a profile of me. I vowed to use it for simple purchases such as the skating and food. But it also showed me how crypto could really work in the real world; if...and it’s not just a huge if but the biggest if, if people accepted it then there would be no such hoops to go through as I just did, and I’m not even sure which side of the law I’m on using Li Kun’s details. I think it was in this context that Li Kun sort of “gets it”, but at the moment the legal hoops I experienced are equivalent to the technical hoops, not to mention fiat onboarding, that you get with crypto. So fascinating how this will pan out.
"My" Chinese bank account |
And we seem to have local Tescos...not so sure about that |
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