There is one thing in this world that you can’t be accused of BTC well: and that is that he is boring. Because after BTC has dropped in the past few weeks, within a few minutes, to 500 US dollars, rose to the number One of crypto-currencies in less than 24 hours to more than 42 percent. As one of the main reasons the Chinese President Xi Jinping and his statements on the relevance of the Blockchain has been called.We would like to take a closer look at the contents of the statements, as well as the coming Chinese law to cryptography. Because, strictly speaking, Xi Jinping has lost no word about BTC or crypto-currencies in General. Something heretical: Can’t distinguish formulated many investors, therefore, between the Blockchain and Bitcoin?
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BTC and Xi Jinping – China is pushing ahead with Blockchain development
After Chinese media portals spread the news that Xi Jinping had expressed in the framework of a working meeting on the theme “development and Trend of the Blockchain technology” is again positively to the application of the Blockchain, knew of the BTC course, no more Holding back, and shot in the meantime, up to 42% in the height. This was the fourth-largest increase in more than 10 years of history of bitcoin and probably one of the reasons for the record increase of Bitcoin.Because if the President of the second largest economy manifests in the world sympathetic to the Blockchain, would this be good for BTC, or? But what, exactly, has said Xi Jinping at all?
Xi Jinping is committed to the Blockchain technology
First of all, Xi said relatively General, that China should promote the development of the Blockchain technology continue to propel forward. In his opinion, will increase the focus on Blockchain technology of China (global) influence and its role as a global decision to expand-makers and policy designers more. Furthermore, he sees the Blockchain as an essential component for the design of so-called Smart Cities; to smart cities. In his speech, the Chinese President stressed in particular the advantages of the Blockchain from an economic point of view: by means of block chains data can be shared with confidence, optimize business processes and operating costs are reduced.The best and safest stock market choose for you to opt for the right provider is not always easy. Therefore, we recommend that you take a look at our Bitcoin brokers & exchanges to throw a comparison. Trading on the safest and best exchanges in the world! For comparison, according to Xi, China could have already a good Basis, as regards the technical Know-How in the Blockchain the area. Now, however, it was necessary to accelerate the development and, in particular, actively the Adoption forward. Specifically, this means apply for him Blockchain in economic and social areas. Thus, Xi asked, for example, a symbiosis of the Blockchain with other current topics such as artificial intelligence, Big Data and the Internet of things (engl. The Internet of Things, IoT).
Bitcoin, China, and Xi Jinping – connection remains indistinguishable
While Xi talked about the Potential of the Blockchain technology and this in particular in the economic sector emphasised, was to currencies any time of the Crypto-speech. On the contrary, in recent years, China has more of a strategy as a “Blockchain, Yes, Bitcoin can be no” interpreting. While the Communist people’s party and the Chairman of the Potential of the Blockchain stressed Xi Jinping again and again, is currencies of the opposition to Crypto since 2017 is felt particularly because in 2017, the Chinese government forced the closure of a local Crypto Exchange and on the implementation of ICOs.We can conclude: even if, Xi Jinping, has already been referred to in the past year, the Blockchain as a “breakthrough technology”, is to be applied to the idea of how Blockchain concrete, far away from the application as a Medium for a decentralized and non-confiscation or currency. Also the launch of its own digital currency of China, has little in common with Bitcoin itself. In addition, it is obvious that the Communist government would establish China’s never a competition to the own currency (and wants to). So it was nice that the Bitcoin price reacted so positively to the Expressions of Xi, nevertheless, you should connect to no great hopes for it. Because, actually, the Motto of the Chinese government: the Blockchain is Yes, Bitcoin no.The BTC course is a response to the statements was Xi Jinpings too hasty? How do you interpret the statements and you will see it nevertheless has a positive connection to Bitcoin?Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)