Ironic that the Chinese government is willing to invest huge amounts of money into developing blockchain technology when they shut down their biggest exchanges and are
trying to stop Bitcoin miners from continuing.
I suspect that they oppose the current incarnation of blockchain tech (Bitcoin and other cryptocurrencies) and think that they can create something better for them. It'll be interesting to see what they come out with and whether it'll be in direct opposition to BTC.
Yeah, just sad to hear that as well. They don't like bitcoin but they love the technology behind it, how pathetic. But I just hope that they will learn a thing or two here that maybe they can adopt cryptocurrency again because they have invested so much in blockchain.
Gonna be interesting as well as other countries is also vying to be a crypto hub and advancing it through promotion of and adoption of blockchain. I guess its gonna still be win win situation after all specially for those Chinese investors. Blockchain technology will be the new revolution in the next 5 to 10 years.