China’s President Xi Urges Accelerated Blockchain Technology Adoption

[arwin100]

The sudden price increase of bitcoin is affecting the altcoins, its dumping and hurting it. I hope this isnt manipulation or bitcoin stabilizes before increasing again. Idon think this is a healthy increase.

The current increase is very surprising and I heard because it was influenced by the news that Chinese president Xi Jinping asked the country to accelerate the application of blockchain technology as the core for innovation and that was very good news.
but vigilance must still be anticipated because the decline could come suddenly in the near future, but that is not the desired expectation and hopefully this is a good start for Bitcoin and Altcoin to reach the highest prices.

Although it is good to see that the Bitcoin prise is heading fast towards the psychological $10,000 mark but this development also might prove that China can really influenced the market movement so hopefully this is not a self interest agenda by China that they are just saving the market from moving lower.

I read that the only supported is the blockchain not the bitcoin but for these eventsmaybe it really bring hype since if you mean blockchain the once came to the mind of people is the bitcoins so provably many people bought when Chinese government announce this and it really bring a good impact since we see today that the market goes crazy. But let see in upcoming days if Chinese influence can sustain the current pump

[CryptoBry]

Blockchain technology is undoubtedly the real deal in some countries despite their crackdown on cryptocurrencies, They really can't deny their fascination for this kind of innovation. In your opinion do you think blockchain can transform Governments?

I am predicting that five years from now, the whole world will be looking to China as the world's capital for blockchain innovations and development. This country is already very much ahead of USA, japan, South Korea, India and Russia as far as applications of the blockchain technology is concerned. Indeed, President Xi Jinping made the right assessment that it is the blockchain technology that can be able to transform and influence many industries for good and bring them to the modern and data and info driven economy.

Sadly, the USA is not a big leader on this field and seems to be complacent in using the technology for its economy. Although USA has not banned Bitcoin, it must set its eyes on the benefits that one can derive from its use and application. All other countries should follow the lead of China on this aspect, otherwise they will just be the markets of the products/services that will come out of the blockchain-based innovations.

I am not a big fan of this great leader President Xi Jinping but i admire his strong and deep understanding of the blockchain and the impact that it can bring to many industries and people. As to why there are many analysts who attributed his statement on the blockchain for the recent flash rise of the price of Bitcoin, that I do not understand perfectly. Maybe Bitcoin is just looking for anything it can find on the news and this statement of China's President is the one available so there is no choice. Just my opinion, my dear.

[Vishnu.Reang]

I'll be disappointed if this is one the causes of the pump but knowing how literal and dim many are it probably is.
'blockchain' is a dream technology for authoritarians as much as it is for the diametrically opposed.
And if you think a fully blockchained China is good for btc there think again.
With normal banking/apps P2P stuff can probably continue to slip through the cracks.
A legit government crypto ups the control and surveillance to truly gross levels.

As per sites such as Coindesk, this is what caused the 30% spike within 24 hours. I agree with what you said. People are forgetting the possibility of China using the Blockchain technology to bolster their own surveillance and spying mechanism. For now, everyone is overjoyed at the increase in the exchange rates, and ignoring the other factors.

[styca]

China with its very controlled economy does have advantages over Western nations in some respects. It can be decided centrally that the whole country will adopt blockchain, and this guarantees it will happen. Western countries are obviously set up differently, and there can be a lot of resistance from the established powers - banks I suppose in this instance - to anything that could threaten their hegemony. So yes, it is certainly encouraging that China is making these statements about blockchain... it should really help crypto.

[AliMan]

The sudden price increase of bitcoin is affecting the altcoins, its dumping and hurting it. I hope this isnt manipulation or bitcoin stabilizes before increasing again. Idon think this is a healthy increase.

The current increase is very surprising and I heard because it was influenced by the news that Chinese president Xi Jinping asked the country to accelerate the application of blockchain technology as the core for innovation and that was very good news.
but vigilance must still be anticipated because the decline could come suddenly in the near future, but that is not the desired expectation and hopefully this is a good start for Bitcoin and Altcoin to reach the highest prices.

Although it is good to see that the Bitcoin prise is heading fast towards the psychological $10,000 mark but this development also might prove that China can really influenced the market movement so hopefully this is not a self interest agenda by China that they are just saving the market from moving lower.

I read that the only supported is the blockchain not the bitcoin but for these eventsmaybe it really bring hype since if you mean blockchain the once came to the mind of people is the bitcoins so provably many people bought when Chinese government announce this and it really bring a good impact since we see today that the market goes crazy. But let see in upcoming days if Chinese influence can sustain the current pump

That can't be foretold by now, because as sudden pumps occurred some other traders including holders grabbed the hot spikes then sold their portions. I thought it's a continuous process upon seeing price increases gradually from $8k the towards $10k all time high, then goes down at $9.7k fluctuations. If it won't sustain, most likely we'll see another price declination just like before.

[kapalmabur]

China with its very controlled economy does have advantages over Western nations in some respects. It can be decided centrally that the whole country will adopt blockchain, and this guarantees it will happen. Western countries are obviously set up differently, and there can be a lot of resistance from the established powers - banks I suppose in this instance - to anything that could threaten their hegemony. So yes, it is certainly encouraging that China is making these statements about blockchain... it should really help crypto.

I am afraid if they withdraw words about that, their words are a bit ambiguous, by saying blockchain technology will be used there,
doesn't that mean they will use bitcoin and other crypto currencies? if they try to pull these words out really manipulation

[SamboNZ]

China is quick enough when it comes to adoptation of blockchain tech into their country. They build their own cryptocurrency to promote this currency platform in their country. China will become successful when it comes to implementing this cryptocurrency. They have the advantage in blockchain technology because of their population.

I disagree, they were leading before but the government decided to crack it down almost restricting it. While the other countries openly welcomed the start-ups that are crypto related and now they are benefiting from it while China until now thought of the advantages.

[Oasisman]

Although it is good to see that the Bitcoin prise is heading fast towards the psychological $10,000 mark but this development also might prove that China can really influenced the market movement so hopefully this is not a self interest agenda by China that they are just saving the market from moving lower.

Is this news really the cause of the current price surge? Or It somehow influenced how the investors think about this as an advantage to the current market condition?
If I read it correctly, Chinese president is interested with the blockchain technology, and Its just the technology alone not Bitcoin or any other cryptocurrency in general.

Imo, blockchain is somehow a game changer in the field of politics and governmental stuff. Mainly, because of the transparency and trust issues.

[7788bitcoin]

With normal banking/apps P2P stuff can probably continue to slip through the cracks.
A legit government crypto ups the control and surveillance to truly gross levels.

It is a fact that a government controlled crypto will have the highest level of surveillance and all the transactions are monitored and with a country like China they will make use of that technology to have complete control over its citizens and the news of adoption might not be a good news for the citizens as they are already restricted to the core by these government and if they come up with blockchain based currency and force people to use them then the privacy in transaction is gone for a toss .

[NathanJB]

Although it is good to see that the Bitcoin prise is heading fast towards the psychological $10,000 mark but this development also might prove that China can really influenced the market movement so hopefully this is not a self interest agenda by China that they are just saving the market from moving lower.

Is this news really the cause of the current price surge? Or It somehow influenced how the investors think about this as an advantage to the current market condition?
If I read it correctly, Chinese president is interested with the blockchain technology, and Its just the technology alone not Bitcoin or any other cryptocurrency in general.

Imo, blockchain is somehow a game changer in the field of politics and governmental stuff. Mainly, because of the transparency and trust issues.

We have to take that into consideration. This is one single news that does not even mention the word Bitcoin in it. The president is only making mention of the blockchain technology. Although I believe that the statement coming from the chinese president was an influence to the market, it is also possible that it was not the cause of the current. There was perfect timing. If we look at the past track of Bitcoin, this is not the first time that the market moved this way.

[Broly46]

I’m not sure how the president got to know the term blockchain and whether he had the fundamental idea about the tech behind it, I think we can guide him to the right direction, may be having a lunch with president. That’s ambitious.

[joinfree]

It's all a matter of time till we see different coutries all across the globe adopting the blockchain technology and possibly some existing blockchain start ups that have been developed. It's a big fact beyond doubt that this technology can serve a great purpose in our daily lives and saves us huge sums of money whiles reducing corruption too.

[coin-investor]

Mak Zuckerberg is very quick to point out what China is trying to do so he can further advance the cause of his Libra Coin, he has a point, now it becomes China against the US in blockchain development, some lawmakers will see this but they will also see the bad side of it, because it happens that Mak Zuckerberg is behind this project, so they will now weigh, between Mak Zuckerberg's plan that they can regulate or China's plan that they cannot control.

[panganib999]

Blockchain could really transform the way government officials work under the administration. Blockchain follows principles such as transparency, and security through blocks hash. However, it's seems that China is not going to tolerate decentralized system, instead they're making their own "digital currency" that would still be monitored, but at least transparent provided that the ledger is distributed and not hidden centralized.  Corrupt acts would potentially lessen and therefore makes progress faster for the country.

China's economic state is by far innovative and very productive. And its very exhilarating to know that China knows the essence and how advantegous blockchain technology is. In fact, blockchain technology could really help boost up an economy from a deep recession because it could really help most especially in terms of securing and avoiding counterfeits. If blockchain could revive an economy, what more a developed and fast moving country like China?

[Leonardo7]

I this was the single sentiment that pushed bitcoin to $9,600 from $7,500. This is a big boost for the community. The USA should be fast on blockchain and bitcoin, and we need real action too not just many talks from the government.

[Oilacris]

The sudden price increase of bitcoin is affecting the altcoins, its dumping and hurting it. I hope this isnt manipulation or bitcoin stabilizes before increasing again. Idon think this is a healthy increase.

The current increase is very surprising and I heard because it was influenced by the news that Chinese president Xi Jinping asked the country to accelerate the application of blockchain technology as the core for innovation and that was very good news.
but vigilance must still be anticipated because the decline could come suddenly in the near future, but that is not the desired expectation and hopefully this is a good start for Bitcoin and Altcoin to reach the highest prices.

Although it is good to see that the Bitcoin prise is heading fast towards the psychological $10,000 mark but this development also might prove that China can really influenced the market movement so hopefully this is not a self interest agenda by China that they are just saving the market from moving lower.

I read that the only supported is the blockchain not the bitcoin but for these eventsmaybe it really bring hype since if you mean blockchain the once came to the mind of people is the bitcoins so provably many people bought when Chinese government announce this and it really bring a good impact since we see today that the market goes crazy. But let see in upcoming days if Chinese influence can sustain the current pump

People would really assume that this news Is the main reason of the sudden jump of bitcoins price without even rethinking that it stated
about adopting blockchain technology and knowing about communism it would really be hardly to believe on mainly supporting up bitcoin.
For sure they would create their own using up blockchain tech and it would be a heavy centralized one but somehow its a good PR overall.

[yulchatar]

In any case, it is very good when world leaders talk about blockchain. This gives hope and definitely will give impetus to the adoption and further development of technology.

[mdgabrielzim]

I agree with you. Here in my country I always advocated the use of blockchain in government, because it would bring more clarity in public actions, something that does not exist today in Brazil (country I live).

[Kemarit]

In any case, it is very good when world leaders talk about blockchain. This gives hope and definitely will give impetus to the adoption and further development of technology.

China has filed more patent that any other countries in the world as far as blockchain technology.China holds the highest number of blockchain patents, so I don't know what's the big fuss about China's President statement that did push the price in the last 24 hours as obviously they have been the leader as far as blockchain technology. They have been experimenting with it ever since and could be probably applying it already in their sector of society. So for me there is nothing new with this kind of statement, probably crypto enthusiast treated it as like crypto adoption, but it is not. Now the price is going down to $9000-$9100 range and I wouldn't be surprised if we go back to $8000-$8500 from this latest spike.

[meliodas]

This is what we are waiting for, the big boys are now recognizing and trying to get into the blockchain technology revolution and this is a good news for the end and for the start of next year because we can expect that there will be more blockchain technology related projects that are created by the chinese government since they are now a fan of this kind of technology.