Hey guys, can someone help me and explain how these are related?
Is the china version a slightly different version than the global version? Because if not, why would the government be giving grants to a blockchain that has a token? I thought that the China government is fine with blockchain as long as its a closed loop within China and doesn’t have a token?
The difference is at the user level.
Simply, the users are not allowed to transact cfx or erc-20 (crc-20) tokens within mainland China.
If you take the example of buying an nft:
When a global user executes a transaction in fluent or metamask, etc. they pay cfx or erc-20 token for the nft as well as cfx for the gas fee to execute the transaction and the nft is sent to their wallet.
In mainland China, a user executes a transaction in anyweb wallet or similarly integrated wallet, they pay fiat for the nft, the contract uses the sponsorship mechanism to use cfx from the sponsorship contract to execute the transaction, and the nft is sent to their wallet.
In this compliant transaction, cfx is only in the hands of the sponsor, which can be the Conflux foundation or any other compliant entity
Both examples allow a user to own an nft in their wallet and the transaction is part of the same ledger. Just check the CRC-721 token listings at https://confluxscan.io/tokens/crc721
Most of those are owned by users in mainland China.