China is and will continue to be a player crucial in the international system. Thanks to its economic weight, the asian giant is rapidly increasing their political influence at the global level. And that’s why, when the government of this country announces its sympathy towards the technology Blockchain, it is normal for investors to begin to enter this market.
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Xi Jinping and the boost to the Blockchain
It has already been several days since the President of the people’s Republic of China, Xi Jinping, declared its support for the development of the technology Blockchain. And comment that, the strings of blocks were to form a vital element of the grand strategy china’s long-term. This was but the recognition of a reality that already takes time weaving. Therefore, the chinese government has been working on the creation of products based on technology Blockchain a long time. Among which, the most outstanding for their importance and degree of development, is the virtual currency that will soon be the government of this country. The chinese interest for the Blockchain does not arise out of nothing. On the contrary, it is a reaction against two situations that threaten the stability of the country. The first of them being, of course, the future release of Pound, the virtual currency announced by Facebook and twenty companies world-class in the mid of the month of June. But, although the virtual currency of Facebook, against which plans compete on the yuan virtual, would challenge the monopoly on the monetary policy of the State. The second threat is even greater Libra, we are referring of course to the jurisdiction of the united States. And is that, during the president of Donald Trump, the united States have taken the confrontation against China as a State policy. What that has led to a significant slowdown of the economy of the asian country. And a decrease in their levels of trade, a vital element of your prosperity. For this reason, the technology Blockchain would be a basic element of the strategy of china to counteract the effects of the shocks americans. Using chains of blocks as a revitalizing factor in its economy, to increase the efficiency of the processes, and develop new technologies.
The return of the Blockchain venture capital
However, the reaction that generated these comments was not desired by the chinese government. Which, through their means of communication, he asked to calm investors in the country. Which turned in mass towards investments in technology Blockchain just Xi Jinping gave their statements. In spite of that, the crypto excitement continues to reign in the chinese territory. Well, after having had a period of stalemate since the fall of the cryptocurrencies in 2018. The capitals of risks focused on investments in technology Blockchain are experiencing a new boom. And is that, this process is not solely dependent on the statements of Jinping. But the capital had been perceived long before the turning point in the attitude of the chinese government, and were beginning to invest millions of dollars in consequence. Lifting only during the first half of 2019, the figure of 368 million dollars between 71 startups dedicated to the technology Blockchain. That’s why we chose this as our Data of the Day here in CriptoTendencia. Because the power of the size of China is shifting toward technology Blockchain. Both from the government and from the private sector. Is an announcement that is almost certainly an immense development of this sector in the future. The following two tabs change content below. Student of International Studies, interested in issues of economy and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and the cryptocurrencies in particular.