Central Bank of China (Taiwan) Promises to Implement the Blockchain!

[Thadeous]

Positive news come from China:
"The new head of the financial institution, Yang Chin-long, said in his inauguration speech that the Central Bank of China (Taiwan) will pay great attention to considering the possibilities of blockchain technologies as an improvement to the existing infrastructure."
More here: The New Head of the Central Bank of China (Taiwan) Promises to Implement the Blockchain Actively
Should it be considered as a harbinger of upcoming green market?

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[NeoTech42]

China is indeed trying to implement and experiment around Blockchain technology. We will see for sure more and more governments, institutions, big corporations getting involved in this industry.

[EthanB]

This sounds more like neutral news if you ask me. The way it is worded makes it seem like they are not planning to do anything with Bitcoin, in fact they are potentially making moves they believe would nullify Bitcoin's purpose in the market. They're taking blockchain technology, and attempting to implement this into their already existing infrastructure; I don't know why or how they would be doing this, but it doesn't sound like positive news for Bitcoin. I doubt this will affect the price of Bitcoin in anyway, unless the people are hearing the word "Blockchain" and then doing research only to find the glory that is Bitcoin; in this regard I would assume there would be a minimal increase in buying pressure for a short time. This would be due to the new adopters of Bitcoin showing their initial interest.

[cellard]

It's similar news to what Putin said the other day I think. Just generic "blockchain" statements. Im getting bored of that. Either man up and load up on bitcoin or fuck off. These guys continue with their "blockchain technology" bullshit. What is this, 2015? they should have learned by now that blockchain is bitcoin and bitcoin is blockchain and everything else is a scam.

They will most likely use blockchain tech hype to release their own centralized chinese fiatcoin from hell, just like Venezuela did with their Petro scam. Avoid at all costs.

[Dluretic]

But block chain and bitcoin in their considered to be separate, they will encourage the development  of blockchain, but that doesn't mean they accept the bit5coin, they are going to limit the cryptocurrency market.

[chidrawarster]

Its good news for the blockchain technology.The more it gets implemented the more the chances are btc regularization, i m seeing it this way.I also feel all financial institutions will migrate from existing infrastructure to blockhain technology to make the transaction even more transparent and more accurate in terms of any fraud and all. This may also increase the growth span of btc resulting in good profits in long term, rest time only will tell the results.

[btctube]

It almost sound like they want BTC legal on their lands. Its kinda of an approval to the technology, blockchain is one of the best in our times and if they use this on thier banks, its going ot be challenging for the rest of the banks in the world. They rest are working with XRP, do you think they will also be trying XRP?

[Thadeous]

It's similar news to what Putin said the other day I think. Just generic "blockchain" statements. Im getting bored of that. Either man up and load up on bitcoin or fuck off. These guys continue with their "blockchain technology" bullshit. What is this, 2015? they should have learned by now that blockchain is bitcoin and bitcoin is blockchain and everything else is a scam.

They will most likely use blockchain tech hype to release their own centralized chinese fiatcoin from hell, just like Venezuela did with their Petro scam. Avoid at all costs.

Yes, it's just a generic "blockchain" statement, but it's hard to believe how such announces affect the crypto market!
Nowadays opinions are much more valuable than actual technologies, unfortunately.

[liseff3]

Heloooo ...
Not only in China in Indonesia too will apply it and probably in all of Asia will apply it. The adoption of blockchain technology in China will not bring any substantial change to the development of the bitcoin or other cryptocurrency except Neo.
Remember china is a ingenious country they had really qualified people who can understand blockchain technology quickly. For me the news is not encouraging at all because the blockchain they apply only for their banking not for crypto.
Let's see later.

[bitbunnny]

I don't see that this is so positive news. And I don't think this will influence Bitcoin in some important way.
Many banks in the world are already experimenting with blockchain technology so this is nothing revolutionary.
And like I always say the influence of China on Bitcoin is overestimated and exaggerated so I wouldn't pay so much attention to that news.

[aintnopassincraze]

Doesn't mean much, all it says is that they will pay attention. It doesn't mean they will implement, nor does it say it will try and implement for the betterment of the people. They will look into it for sure but that is because it is cutting edge tech that could help the banking system or their corrupt system even further. I doubt they look into it to help the people of China and Taiwan, although one can pray that is what they are looking at it for.

[13abyknight]

This is getting to a point where just publishing news of a development which is being planned is enough to be considered as 'good news' to propel the market towards greenery. Yet, nobody considers the possibility that this could take years to develop and implement, being the central bank of a country brings in great responsibility. Moving traditional ledger accounting onto the blockchain while making it foolproof is a hard task in itself and announcing a 'promise' of sorts seems more like an exaggeration than anything else.

[Danielavgonz]

Positive news come from China:
"The new head of the financial institution, Yang Chin-long, said in his inauguration speech that the Central Bank of China (Taiwan) will pay great attention to considering the possibilities of blockchain technologies as an improvement to the existing infrastructure."
More here: The New Head of the Central Bank of China (Taiwan) Promises to Implement the Blockchain Actively
Should it be considered as a harbinger of upcoming green market?

China always betting on the future

[Onion_Azz]

Asia will drive the market to new ATH's this year... Check out the likes of NEO and ICX the work these guys are putting in is immense

[bitart]

It almost sound like they want BTC legal on their lands. Its kinda of an approval to the technology, blockchain is one of the best in our times and if they use this on thier banks, its going ot be challenging for the rest of the banks in the world. They rest are working with XRP, do you think they will also be trying XRP?

It's the opposite, they don't want BTC to be legal, but this is only my opinion. They want to use the blockchain technology, maybe they can cut some costs with it, maybe not. Maybe it's just a good marketing trick to sustain the interest about their services. There's nothing mentioned which can be in connection with bitcoin, only the blockchain technology. Because the systems of the banks are closed and centralized, you can't really be sure that they will implement the blockchain even if they communicate it.

[hazznel]

Positive news come from China:
"The new head of the financial institution, Yang Chin-long, said in his inauguration speech that the Central Bank of China (Taiwan) will pay great attention to considering the possibilities of blockchain technologies as an improvement to the existing infrastructure."
More here: The New Head of the Central Bank of China (Taiwan) Promises to Implement the Blockchain Actively
Should it be considered as a harbinger of upcoming green market?

Slowly guys, step by step, bank by bank, the world will shift from fiat to crypto currencies!
Give it enough time and you will see! Sadly too many of us are unpatient to make profits and become millionaires. But that's not the true meaning of blockchain!

[Dexion]

of course, this will be the cause of the green market. blockchain technology is recognized by the world, and I think it's not just Chinese banks that will use it, but all banks in every country have plans to use blockchain technology.

because the peer to peer system can facilitate us to transact directly without any third party.

[Willitivity]

In as much as this sounds as a good news, but hey, it's one of those craps we Keep hearing from these governments. They all keep talking about blockchain technology but none of them wants to talk of Bitcoin, you cannot integrate blockchain without Bitcoin. And they are most afraid of the potentials of Bitcoin. So, this whole blockchain technology implementation boils down to nothing, it's just a way to deceive people.

[kingkonjac]

The blockchain technology and crypto market I guess now is seperated because blockchain can be implemented anywhere by any company without the need of any coin.

[KingScorpio]

Positive news come from China:
"The new head of the financial institution, Yang Chin-long, said in his inauguration speech that the Central Bank of China (Taiwan) will pay great attention to considering the possibilities of blockchain technologies as an improvement to the existing infrastructure."
More here: The New Head of the Central Bank of China (Taiwan) Promises to Implement the Blockchain Actively
Should it be considered as a harbinger of upcoming green market?

there is no difference what thech they use, they stay a communist centrist banking cartel,