China’s president Xi Jinping is calling on China to do more to blockchain technology. That’s what he told at a press conference on the 24th of October. He mentions the blockchain, even crucial, to the promotion of technological innovation.
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Blockchain for better technology
Xi Jinping: “We will have to blockchain to see this as a major breakthrough of the independent innovation of key technologies. We need investment to increase our focus on key technologies, and the development of the blockchain, and the industrial innovation process.’
Blockchain, not bitcoin
Nice words, but what does that mean for the cryptogemeenschap? Actually, not so much. China is still always a hard-handed against the cryptocurrency s. In 2017, prohibited in China, namely the Initial Coin Offering (ICO’s), and not long after that, cryptocurrency exchanges, are prohibited.
And, in some parts of China, the mining of bitcoin is not to be allowed. It’s going to be inner Mongolia, part of China and bordering hong kong. At this point, would be the managers control where bitcoins can be gemined in that area as well.
China is busy with its own cryptocurrency
China, not, as with bitcoin, the rumors are that the Chinese government is concerned with the use of a Central Bank of Digital Currency. This is a type of cryptocurrency, but are managed centrally. As a CBDC is in that respect antithetical to the principles of bitcoin, a decentralized cryptocurrency.
If the CBDC, from China, is on the market, it is not well known. According to the China’s central bank, the People’s Bank of China (PBoC), the digital currency is examined, tested, and evaluated are available on the market.
China’s president arrives in an illustrious list of
The president of China is not the only one blockchain, however, is a gift of development. Prince Charles of the United Kingdom, will blockchain be great.
As a computer enthusiast, said to him: “Prince Charles! What do you think about bitcoins?’. Prince Charles replied: ‘What? Oh the blockchain! Nice development. The whole crypto-community and found it to be fantastic, and prince Charles, blockchain said. Click here to view the video:
Also, as Bill Clinton did to find blockchain to be fun. “The potential of blockchain are great,” said the ex-president of the united states last year, as part of the annual Ripple Swell event. Also, read about you, at the time, most of the stories. And, okay, so moving forward, we are doing well with it.
What do you think about blockchain?