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Author Topic: China believes blockhcain is the fourth industrial Revolution  (Read 153 times)
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May 27, 2018, 03:46:05 AM
 #1

Didn't know that China is friendly to blockchain

https://www.ccn.com/chinese-government-orders-faster-blockchain-development-urgently-seeking-results/
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May 27, 2018, 03:58:24 AM
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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. Cheesy

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May 27, 2018, 08:20:15 AM
 #3

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.

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May 27, 2018, 08:28:35 AM
 #4

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.
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May 27, 2018, 08:47:55 AM
 #5

Didn't know that China is friendly to blockchain

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.














 

 

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May 27, 2018, 09:12:59 AM
 #6

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.


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May 27, 2018, 09:32:41 AM
 #7

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.


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May 27, 2018, 09:37:06 AM
 #8


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.
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May 27, 2018, 09:38:46 AM
 #9

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.

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May 27, 2018, 09:40:13 AM
 #10

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.
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May 27, 2018, 09:40:25 AM
 #11

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. Cheesy
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 might help in enlightening you.
Didn't know that China is friendly to blockchain
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).
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May 27, 2018, 09:43:25 AM
 #12


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.

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May 27, 2018, 09:59:31 AM
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Also, Bank of China is already deep into Blockchain - China just hate the coins and loves blockchain.

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May 27, 2018, 10:15:16 AM
 #14

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. Cheesy

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

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

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.

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May 27, 2018, 10:24:15 AM
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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. Cheesy

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

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.

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May 27, 2018, 10:29:31 AM
 #16

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.

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June 08, 2018, 03:47:04 PM
 #17

The Chinese are not stupid people and they understand the value of blockchain as a technology. It would be foolish not to use it
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June 08, 2018, 04:29:37 PM
 #18

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.

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June 08, 2018, 04:30:41 PM
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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.

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June 08, 2018, 04:34:36 PM
 #20

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.

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