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Author Topic: Why is China giving importance to Blockchain?  (Read 1956 times)
djhonson196
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June 19, 2018, 10:14:50 AM
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Chinese has been feeling very enthusiastic about blockchain lately!  The Chinese government may not like cryptocurrencies or in fact Bitcoin, but they sure do like the Technology it is based on.

Know more what China is doing with Blockchain https://www.globaltechinsights.com/blockchain-bitcoin-whats-happening-in-china/
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June 19, 2018, 10:22:50 AM
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China does not have any desire to pass up a great opportunity for any huge innovation incline, as they put huge in man-made artificial intelligence/machine learning since it is an undeniable wagered on the future and a moderately low hanging organic product. Blockchain technology saw its first official mention in China in 2016. In addition, Blockchain is seen to be one of the key innovations that could help China to lead in the digital economy.
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June 19, 2018, 10:24:16 AM
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One of the root causes why the Chinese want to take advantage of Blockchain technology is of course money. Chinese are what I say a natural born businessmen and they have an eye for oppprtunity. Just take a look at how some local Chinese companies are creating their own version of the products seen in Kickstarter websites. This is what they are also doing with Blockchain as they know that this has a potential to give them a lot of money in the future.

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June 19, 2018, 10:38:06 AM
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One of the root causes why the Chinese want to take advantage of Blockchain technology is of course money. Chinese are what I say a natural born businessmen and they have an eye for oppprtunity. Just take a look at how some local Chinese companies are creating their own version of the products seen in Kickstarter websites. This is what they are also doing with Blockchain as they know that this has a potential to give them a lot of money in the future.
Knowing Chinese people they are very careful to make decisions specially when regards  to money matters. There are true  businessman and businesswoman. They prepared to live with a priority of business making. They are not easily involve or undergo in any system that they not absolutely sure what it is.  I believed also that they will see the brighter future using a blockchain technology and it will help it to their businesses.

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June 19, 2018, 11:40:48 PM
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The reason why blockchain is highly sought after, based on blockchain technology can not be tampered with, traceability. Can solve the trust problem in daily life!
China is a populous country. The development of blockchain technology can reduce a lot of capital and operating costs, and increase transparency and office efficiency.
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June 19, 2018, 11:44:48 PM
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It is true that China is very enthusiastic about Blockchain technology, because I think blockchain is a very advanced technology and it will be very useful for the future and progress.

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June 19, 2018, 11:51:26 PM
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Because blockchain is very good to apply or also used in data collection and it is very important for future progress and should country all over the world also better use Blockchain technology.
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June 19, 2018, 11:58:51 PM
 #8

China does not have any desire to pass up a great opportunity for any huge innovation incline, as they put huge in man-made artificial intelligence/machine learning since it is an undeniable wagered on the future and a moderately low hanging organic product. Blockchain technology saw its first official mention in China in 2016. In addition, Blockchain is seen to be one of the key innovations that could help China to lead in the digital economy.

Yes, china will not pass this great opportunity of earning huge profit by supporting and using it. I think this is the outcome of how they want to regulate the cryptocurrencies and they already discovered huge potentials.
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June 20, 2018, 12:00:43 AM
 #9

Chinese has been feeling very enthusiastic about blockchain lately!  The Chinese government may not like cryptocurrencies or in fact Bitcoin, but they sure do like the Technology it is based on.

Know more what China is doing with Blockchain https://www.globaltechinsights.com/blockchain-bitcoin-whats-happening-in-china/



Because blockchain as part of new technologies gives benefits for the country to growth their economy stability using the computer science how to make fast every transaction because of the blockchain.

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June 20, 2018, 12:28:10 AM
 #10

It's true and I think their level person is very understanding and knows about future progress using Blockchain technology, and that way they are very enthusiastic in Blockchain technology.

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June 20, 2018, 12:38:31 AM
 #11

because blockchain technologies help to solve many problems and built better and fairer things!
china is a cleaver country! the Banned cryptos in order to not permit their capitals to comes out the country but they still want the technology behind all of it!
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June 20, 2018, 12:52:02 AM
 #12

Not just China, every major country is paying attention to the possibilities of Blockchain. It's like 'Internet 1993' replaying at a screen near you; and you don't want to miss out on all the goodies on offer.

That said, they make a sharp distinction between blockchain and Cryptocurrency. Putin has already stated that Cryptocurrency is incompatible with the concept of a national, fiat currency. That's the road the rest of them will be following, especially the 'hard state', nationalism-minded ones.

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June 20, 2018, 01:14:23 AM
 #13

China was giving importance to blockchain it simply because they know that it can help to them and to their businesses. Chinese people are not easily involve in anything that they known that it couldn't give helps to them. They smart enough and born to be a business owner so they know what will be the best for their businesses. Blockchain can gives a lot of benefits to them and it can make their businesses much successful because of it.


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June 20, 2018, 01:23:52 AM
 #14

Is'nt it because they want to be one of the greatest countries on earth? They take every shot that technology has to offer
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June 20, 2018, 01:43:28 AM
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Because Chinese people always seek for opportunity, the reason why they are Interested in Blockchain is because of the technology and the potential of it being used in many things and once it does, it will be very profitable.
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June 20, 2018, 01:52:34 AM
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Because China and Chinese people, especially those who came first to bitcoin and mining it are forward thinking. They think about the future. And saw the benefit and the role bitcoin will play in the future while other people and countries are catching up. That is the reason why in the future, it is definite that China will be the number 1 super power. The US is in decline. We will see in a decade or two.
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June 20, 2018, 02:04:20 AM
 #17

China does not have any desire to pass up a great opportunity for any huge innovation incline, as they put huge in man-made artificial intelligence/machine learning since it is an undeniable wagered on the future and a moderately low hanging organic product. Blockchain technology saw its first official mention in China in 2016. In addition, Blockchain is seen to be one of the key innovations that could help China to lead in the digital economy.
Perfectly right mate,Chinese is known to be silent but dangerous as they are competing the world with innovation and technology,and with blockchain they know that  being number one will come near to them not like japan that adapt cryptocurrency specially bitcoin,chinese will only use this technology for their innovative plans and no interest in cryptocoins.

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June 20, 2018, 02:45:27 AM
 #18

Chinese has been feeling very enthusiastic about blockchain lately!  The Chinese government may not like cryptocurrencies or in fact Bitcoin, but they sure do like the Technology it is based on.

Know more what China is doing with Blockchain https://www.globaltechinsights.com/blockchain-bitcoin-whats-happening-in-china/


The reason is pretty obvious. It is because the block-chain technology itself has the potential
to change the world and how we see monetary usages. I believe that one day, there will be
countries that would be creating their own cryptos that are fully centralized to enjoy the
benefits of being in a block-chain technology without the risks of money laundering or crypto
related crimes that are hard to solve.

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June 20, 2018, 02:58:14 AM
 #19

The Chinese government may not like cryptocurrencies or in fact Bitcoin, but they sure do like the Technology it is based on.

that's a no-brainier. anyone who is in the midst of the power of the centralization is not going to like the decentralized currency which is bitcoin. it has nothing to do with China or any other country. the only important thing is that bitcoin is free to be used in China.
as for blockchain technology everyone likes that because it is not only a new and good technology but also it is hyped up so when you use it you can benefit from that hype too.

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June 20, 2018, 03:10:23 AM
 #20

China is gradually catching up with the leading world technologies that is why they are giving importance to Blockchain of course they knew the impact of this technology as a solution to the societal problems and they will try to harness and tap all the key areas and deploy it as a solutions to those problems.

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