Bitcoin Forum

Didn't know that China is friendly to blockchain

https://www.ccn.com/chinese-government-orders-faster-blockchain-development-urgently-seeking-results/

Good news, I do not know if the Chinese State Government actually supports and develops Blockchain technology, given last year that the news spread that China banned the use of Bitcoin in the country. :D

This is no surprise, the 4th industrial revolution is happening and you dont have
to be friendly to blockchain to acknowledge it.

Along with blockchains, artificial intelligence, 3d printing, nanotechnology and
bioengineering are all making gains to add to the revolution. It looks like this
has been happening for a few years now.

Although now China don’t support digital cryptocurrency, in the Davos Forum, Chinese representatives as member of a council attend the summit meeting. It means in fact, China support it. But lack of excellent application, they refuse a risk and worry about another financial crisis with destroying the domestic economy. They will be onlooker to look at other countries. Through study and improvement, at last, China will embrace the Blockchain with regulations and rules.

no country in the world has ever been un-friendly to the technology (aka blockchain). they all love it because it is the technology behind bitcoin not bitcoin itself and the technology can be used in any way that you want.

also China has never been as unfriendly as the media portrays them towards bitcoin either. there has been a lot of false news changing the view of people against Chinese but the reality is that they never done anything that any other  country wouldn't have done such as banning ICOs or closing shady exchanges.

Blockchain is a very secure, shared, platform-based, and encrypted trading platform that helps build trust in the global trading landscape, such as hacking in banks, will be deleted. Blockchain will be considered the 4.0 technology revolution.

Blockchain deserves the 4.0 technology revolution, building trust through transparency and accountability. Blockchain creates a new generation of transactional applications that allow data to be stored continuously, securely and "rigidly" enough to prevent tampering and modifying information.

It can`t be said that China is friendly towards the blockchain technology. China has a very specific policy, which is aimed solely at making this country a leader in the global economy and politics. The blockchain technology is also used for China`s own purposes, as it is able to help the Chinese in achieving this goal. For them, the main thing is control of the crypto sphere. Therefore, they introduce rules and prohibitions, which should lead to the total regulatation of the crypto-currency sphere.

Blockchain has promoted the development of e-commerce in the financial sector.

Blockchain technology will be one of the most competitive solutions for data storage, transmission and distribution in the intelligent era. It will also be the fourth industrial revolution with representative core technologies.

Well, it's a good thing to see they have good opinion about blockchain if not entirely bitcoin. Probably if they see and make good use of blockchain itself, they might one day consider bitcoin and this will surely expand cryptocurrency as a whole causes China cryptocurrency interests indirectly affects the price of bitcoin even if we don't want to conculde that it does.

As far as I know, China didn't ban the use of bitcoin in their country. Instead, they have only banned trading of cryptocurrency, and not bitcoin itself. This article (https://qz.com/1280458/china-now-rates-bitcoin-ethereum-and-other-cryptocurrencies-and-their-blockchain-tech/) might help in enlightening you.
They are of course since they haven't said any statement that is against the increasing adoption rate of blockchain(besides stopping trading because of some Chinese traders getting unexplained wealth via price manipulation).

I have noticed that chinese want to make sure they don't fall behind in blockchain race, same as with other technology. But they also want to ave firm grip of what is happening on blockchain network.

Also, Bank of China is already deep into Blockchain - China just hate the coins and loves blockchain.

I believe what happened last year is for price manipulation. They are taking advantage of having the largest hash rate of bitcoin.


Ofcourse, they are afraid of getting their local currency to be deflated too much because of bitcoin. I think this is the very reason of cryptocurrency exchange banning occured last year.

Maybe there were some people taking advantage, and you could call it in part price manipulation. But since the action was large enough to cause all of these huge Chinese exchanges to close their doors more or less(even if just temporarily), it's a lot bigger than just talk for the purpose of moving the price.

I also strongly believe in China's statement that blockchain is the fourth industrial revolution, and with the existence of a decentralized Blockchain technology it will be very easy for us to succeed.

The Chinese are not stupid people and they understand the value of blockchain as a technology. It would be foolish not to use it

I just read today that Huobi is investing $100 mil in to creating their own blockchain. I don't really know what the purpose is. But it seems there are some putting their money where their mouth is at least.

Though their government seem to be clunky, most of the Chinese people understands that the blockchain tech would surely bring in wonders to their tech and the way they handle things. As one of the biggest exporters of different items all over the world, logistics would be one part of a problem that they might be facing, and the blockchain tech solves that through careful application of the said tech in their systems. Another industrial revolution seem to be an overstatement, though, but they do have a point that the blockchain tech would play a major role in today's search for feasible, effective and reliable systems.

Yeah but what about their ban issues regarding on cryptocurrency? As we all know that cryptocurrency are using blockchain technology and that cryptocurrency is being hated by china? Unless if they are taking advantage on the block chain technology and they want to incorporate it with their trends and technology also. As we all know that china is a cashless society so they can really put a really good use on that block chain for the improvement on their systems.

I still believe every country has something that is very much favored, of course, pushes the technology, whether it is blockchain so stay focused on the future now, I see this technology is growing now and easily accepted by the people

Blockchain is the future today. A more secured technology, and an encrypted trading platform that allow data to be stored continuously. It is a 4.0 technology that seek to build trust in the global transactions.

china is slowly searching for the blockchain, maybe they already know it, and they are ready to enter the country crypto.

Most countries in the world believes in the power of blockchain technology and having China believe in it is a big boost. Blockchain is a great innovation and the world needs to embrace it. This is indeed a fantastic news

I think China is right on the spot! Blockchain technology is extremely useful and versatile! I think any business would see how important it is and would embrace or use it to improve their business. As a result, cryptocurrencies are also here to stay and there are many use cases as well as future applications that are still on the drawing board! I am very optimistic about a future based on Blockchain technology and decentralized currencies such as Bitcons and other alternative cryptocurrencies.

china is blockchain friendly country but they dont like bitcoin.china is well developed country so definately they will support blockchain surely bcz blockchain is the future.
and its good news for world.

Crypto currency and its benefits will give the next step revolution on many forms dude. If you like to take the investment on blockchain based projects you can say you are in most secured platform you do not need to worry about the hack attacks and other issues.
Next to that you will be find currency revolution will be happen because of the crypto currencies. If this has been used postive we will be able to make the world clean we do not need to worry about it.

China is an interesting country, they announce blockchain revolution but they are also against bitcoin :) if china decides to support crypto currencies also, crypto markets will go further a lot. China has huge economy to any economy.

yes, that's true. Most of our future depends on the blockchain technology and what we chose to do today will greatly impact that future.

I hate to read about China with respect to bitcoin after so much bad impact on the space, bringing bad policies to restrict the use in a country with such large population and technology oriented environment that is solely capable of driving the coin price to any height and also maintain a high volume trade that can be consistent. Whatever they want to they should just with no lengthy campaign

The actions from China says otherwise, what they will be planning to do is to control the blockchain technology and have regulations so that they wanted to monitor every move, the basic reason why bitcoin came into existence is to have a free trade around the world without any restrictions from governments and whether the governments like them or not we will move forward for that goal, it is a revolution that will change the entire economic structure without a doubt.

It is a platform for insurance companies that was created in order to make the communication between customer and insurance company more convenient and simple. With this ecosystem, companies will be able to cut operating costs, create new insurance products, deal with data analysis more efficiently and many other benefits.

Like several other nations and many corporations, they are trying to ride the thin line between being pro-blockchain but anti-digital currency. The lines are very blurred here.

If to think on an industrial scale, when robots will interact with each other, then this is actually a new era of limitless possibilities, all that is necessary is to install sensors everywhere and transfer information after accumulation from one volume to another. Therefore, it seems to me that in the future robots will completely replace people, because it is easier to oppose the artificial intelligence that immediately receives commands from all sides or simply does it on the other end of the world than it tries to control people, giving each individual instructions on the physical and mental data of a person . The power of computers in this plan is completely unlimited - one computer can manage millions of instructions and nodes, a person can only perceive 1-3 teams at the same time.

I kind of believe with this the Chinese government are working behind the scenes to make it better for its citizens, the ban should will likely be relaxed in the future.

China has the biggest industry. If it accepts blockchains completely, we will start seeing that everywhere else. It will be a revolution

Blockchain is really developing in China. We can see a lot of blockchain projects coming from China with good quality. I also believe blockchain is the fourth industrial revolution

In fact China has already supported the crypto, even the Central Bank of Russia with China and several other countries such as Brazil, India and the former Soviet republics have begun to create the idea of creating multinational cryptocurrency, if it is approved then 40% of the world's population will use it.
Source : https://cointelegraph.com/news/pax-crypto-russia-proposes-first-multinational-cryptocurrency-expert-blog

Bank of China Deputy Governor Fan Yifei wrote an article publishing the possibility of a digital currency to be issued with Chinese commercial agencies.
with this news will increase Chinese public interest about cryptocurrency.

that's good news and I like that because it can raise the price of Bitcoin.

unfortunately this news was made around May 2018, if made now it might be better lag. I hope .

Yes, China, like all other countries, fully endorses the promise and advantages of blockchein technology. Now in China, the largest number of patents for the introduction of blockchein technology. Although the Chinese government is showing solidarity with the rest of the world. On the introduction of crypto currency, the Chinese government holds its opinion that decentralized crypto currency is a threat to the existence of the economy and therefore developed a two-year program to completely ban decentralized crypto currency. They are developing their own approach to cryptovoltnosti and while it is still very difficult to understand because of conflicting actions in this area. In general, we should recognize that the isolated position of the Chinese government in other areas of management has brought China a good success in its development and it deserves respect. So let them experiment. If its own path in relation to the crypto currency is dead-end, China will return to us.

I read somewhere on Twitter yesterday that China has revoked the passports of multiple crypto developers and put them to work.

First I was surprised China has any crypto developers as they've contributed fuck all to Bitcoin itself. Second, can China possibly shut out the rest of the world when the rest of the world is using Bitcoin and buddies and not whatever they come up with?

You can do that easily enough with stuff like social media. Money has a far stronger incentive to seep in and out.

Right. China's Blockchain industry will continue to grow. Blockchain technology has great potential for transforming business models, but much of this potential has yet to be explored. Ethereum is leading the smart contracting platform, and other platforms such as Qtum and NEO also contribute to the development of Blockchain integration into the business world, by providing unique and innovative solutions.

China is truly one of the nations the world should keenly watch for them and no wonder they have foreseen this revelation with regards to blockchain. It think is about time most nation see this as a big opportunity and buy these ideas.

China is flamboyant and friendly to everything it can control and benefit from, so it is in favor of blockchain technology but at the same time it is a fierce critique of bitcoin

Of course, I also realize, that the times continue to grow and the world community enjoys technological developments. Almost all the world community holds smartphones. And from this, we see a great opportunity for Blockchain. Do you get my points?

i dont know about china, someday they block bitcoin for some reason, and then bitcoin is legal again, and then they block ICO. and right now they think that blockchain is the industrial revolution, are they think that bitcoin and ICO project is work in blockchain system? are tehy want to use their power to "play" with bitcoin price?

That is very good news for everyone in blockchain. We all know that blockchain is really helpful, this is really the best technology so far for this generation and it will continue to improve until next generation. For me, blockchain is just starting, there's still a lot of time.

blockchain is no industrial revolution its just a new way to decentralise power.