GAChain ICO

[methereum]

Hi Guys,

By accident I stumbled upon an ICO of https://gachain.org

Was this ICO ever posted here? I cannot seem to find anything about it and most is in Chinese

[jmasterz]

This was posted on the NEO reddit:

http://www.coinfox.info/novosti/7335-blockchain-will-be-used-by-chinese-government-for-taxation-and-electronic-invoices-issuance

It's a centralised blockchain with the main purpose of electronic tax collection, large potential if we have official adoption by the PRC ?

“The difference between GACHAIN and existing blockchains lies in its unique algorithm of Smart Law, which migrates existing policies, laws, and regulations to GACHAIN and has a hierarchy of administration. All smart contracts are administered within the framework of Smart Law and developed separately in accordance with the needs of government bodies. The business of the government bodies is handled separately as part of an integrated organism. It’s safe to say that GACHAIN is a sovereign blockchain that puts the decision making and regulatory rights into the hands of the government, meanwhile enabling every citizen to control his digital assets in GACHAIN. This will facilitate Chinese government control over blockchain projects and ICO.”