Pi Network - auto mobile mining: Join now and be one of the pioneers!!

Blog

China’s President Xi Jinping recently told the Politburo that the country must “seize the moment” and push for blockchain adoption. The news has caused massive ripples throughout the country.

Blockchain is making headlines in China after strong words by President Xi, as reported by BeInCrypto yesterday. The President told the highest-ranking officials in the country recently that the country must seize this technology and be the first to implement it. The speech essentially confirmed Jinping’s strategy of technological dominance, wishing to best his rivals by adopting blockchain technology.

Spencer Dinwiddie NBA

Spencer Dinwiddie NBA

Blockchain-Mania in China

The speech caused a media wave in China as all the major papers reported on the promise of blockchain technology. In the People’s Daily, ‘blockchain’ made the front page today. Xunlei Ltd, a Chinese company investing in cloud computing and blockchain, is up 107% in just 24 hours after the news. Clearly, Xi’s announcement is causing an explosion of interest within the country.

This blockchain-mania is even having sweeping effects on education. According to reporter Dovey Wan, top universities in China are now offering blockchain courses seemingly overnight. She also writes that local initiatives for blockchain-related education will be implemented on a massive scale shortly.

China Still Remains Opposed to Cryptocurrencies

It should be noted, however, that President Xi did not mention Bitcoin or any other cryptocurrencies in his speech. He was solely praising the technology itself — not the many projects surrounding it. It seems that the Chinese state is not actually interested in cryptocurrencies per se since it would compete directly with the renminbi.

Still, the news comes at the same time Bitcoin smashed expectations and rose by close to $3,000 in just the span of a day. It’s unclear whether the pump is related to Xi’s comments, but sentiments are high right now and the market seems relatively optimistic.

Maybe China will soon realize that ‘blockchain without cryptocurrencies’ is nonsensical. For now, this is a big win for the industry.

Do you think that China will lead the world in blockchain development in the coming decade? Let us know your thoughts below in the comments.


Images courtesy of Shutterstock, Twitter.


Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!

No Comments

Be the first to start a conversation

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Categories

Pi Network - auto mobile mining

Become one of the pioneers!!

Random Posts

DOWNLOAD MY EBOOK FOR FREE

"Your Headline Here How I Made $4947 In 1 Month"

Lorem pretium lorem orci elit nunc imperdiet nec vel sit pretium hendrerit amet nec orci gravida gravida sapien purus massa

Quick Bio About Me

mypicmeLorem proin accumsan accumsan volutpat ut nullam odio eleifend libero quisque ipsum gravida eleifend dolor nunc sagittis venenatis orci eleifend lorem quisque venenatis non sagittis sagittis ipsum nunc.

lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris ornare congue lacinia auctor lorem quis quis lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris

Resources

  • Resource 1

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

  • Resource 2

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

Random Blog Posts

© 2020 Cryptoracle.info - Crypto News