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[AudraMiller]

China is not entirely open to the cryptocurrency world, especially being as though they have one of the largest mining rigs in the world for cryptocurrency as well. In fact according to a recent news article, China actually bans cryptocurrency exchanges as well as initial coin offerings ass well. This however, does not mean that they do not see the merit in the technology on which it is based, as they have been using and plan to use in the future, the blockchain technology as a means by which to track shipping parcels and to be use in court evidence and its authentication. This shows extreme use for the blockchain technology. What do you think is the future of this technology beyond that of crypto?

 

[Niftyicon]

Actually, China is not the first country to adopt the block chain technology but reluctant towards cryptocurrencies. The technology itself is an excellent tool that is being integrated into various sectors of the economy.

 

[Balint098]

Even though the first use of blockchain is by the crypto king Bitcoin, technically, blockchain is a different tech from bitcoin itself though. Plus even though the government doesn't allow it, people who are passionate about it will still find a way.

 

[Wisdom01]

Well if the ban exchange site how would people be able to trade and earn crypto currency , they just need to really re consider the ban , and i know the block chain technology has been very important

 

[GoldenLady]

It's apparent that government will never find cryptocurrency as a good thing, since to their fiat currency, it is a serious threat. China is no exception.

 

[GoldenLady]

Even though they've refused to fully optimised the decentralised block chain industry for financial and economic aid. Crypto currency remains the new world currency.

Imagine that you can spend China's Yuan in Canada, and you can't spend UAE's Dirhams in USA. But you can use acceptable CRYPTO CURRENCY anywhere in the world...

This is true. With time, it's either China accepts that it's digital Yuan cannot compete with cryptocurrency the way it wishes, it remain isolated from the benefit it brings.

 

[Wisdom01]

China is not entirely open to the cryptocurrency world, especially being as though they have one of the largest mining rigs in the world for cryptocurrency as well. In fact according to a recent news article, China actually bans cryptocurrency exchanges as well as initial coin offerings ass well. This however, does not mean that they do not see the merit in the technology on which it is based, as they have been using and plan to use in the future, the blockchain technology as a means by which to track shipping parcels and to be use in court evidence and its authentication. This shows extreme use for the blockchain technology. What do you think is the future of this technology beyond that of crypto?

But do you have any information regarding the reason for the ban on crypto currency exchange sites ,because i am surprised they did so after support for blockchain i think

 

[Josemendez]

There is one unique thing about China , it is the fact that they are ways hungry for development . They will do anything just to be ahead of others .

 

[Wisdom01]

China also outlawed so-called Initial Coin Offerings (ICO) in September 2017, identifying them as an unregulated market vulnerable to fraud. ... It is easy to understand China's reasoning for banning cryptocurrency mining: it is a needless waste of resources.

I dont really think banning crypto currency mining is really a waste a resources because most people use that opportunity to actually make profit and most use it for employment benefit

 

[achawaskey]

Just like the writer pointed out, the use of blockchain can not be over emphasize apart from crypto there are other use of blockchain ranging from monitoring to tracking of goods and other things.

 

[GoldenLady]

Even though they've refused to fully optimised the decentralised block chain industry for financial and economic aid. Crypto currency remains the new world currency.

Imagine that you can spend China's Yuan in Canada, and you can't spend UAE's Dirhams in USA. But you can use acceptable CRYPTO CURRENCY anywhere in the world...

This is true. With time, it's either China accepts that it's digital Yuan cannot compete with cryptocurrency the way it wishes, it remain isolated from the benefit it brings

 

[Wisdom01]

Just like the writer pointed out, the use of blockchain can not be over emphasize apart from crypto there are other use of blockchain ranging from monitoring to tracking of goods and other things.

I think that blockchain has always been a good development ,and most countries are now planning on using it to track corruption and others actually

 

[Kunkun]

Actually, China is not the first country to adopt the block chain technology but reluctant towards cryptocurrencies. The technology itself is an excellent tool that is being integrated into various sectors of the economy.

Why reject crypto currency trading in the first place, I still can't understand why some government think outright ban is the right solution to Bitcoin

 

[Josemendez]

Why reject crypto currency trading in the first place, I still can't understand why some government think outright ban is the right solution to Bitcoin

My annoyance is that too tier countries like US and China didn't outrightly ban cryptocurrency ,but low tier countries are banning it .

 

[Niftyicon]

Why reject crypto currency trading in the first place, I still can't understand why some government think outright ban is the right solution to Bitcoin

Such a decision is quite myopic from the government because the best step to have taken should have been finding a way to regulate it and also make some revenue while at it.

 

[Rollerkid]

China is not entirely open to the cryptocurrency world, especially being as though they have one of the largest mining rigs in the world for cryptocurrency as well. In fact according to a recent news article, China actually bans cryptocurrency exchanges as well as initial coin offerings ass well. This however, does not mean that they do not see the merit in the technology on which it is based, as they have been using and plan to use in the future, the blockchain technology as a means by which to track shipping parcels and to be use in court evidence and its authentication. This shows extreme use for the blockchain technology. What do you think is the future of this technology beyond that of crypto?

Sometimes I always wonder why countries always plan to adopt blockchain technology while against crypto currencies which are also built on the same blockchain technology. But in general their plan is good.

 

[BullyMaguire]

As it should be.. let's say you're a pretty close minded person and you didn't like the idea of something but some of the part will be helpful. Don't let your ego get ahead of the opportunity

 

[AudraMiller]

Sometimes I always wonder why countries always plan to adopt blockchain technology while against crypto currencies which are also built on the same blockchain technology. But in general their plan is good.

I think that many see the technology that is behind crypto as good for storing information that is meant to be kept private or confidential, however they do not appreciate the anonymity of crypto transactions and the lack of regulations for payment structures.

 

[Wisdom01]

Sometimes I always wonder why countries always plan to adopt blockchain technology while against crypto currencies which are also built on the same blockchain technology. But in general their plan is good.

Its not good for the people actually if they are against crypto trading , it would be hard for the people to trade crypto and earn ,they should do both

 

[Josemendez]

Such a decision is quite myopic from the government because the best step to have taken should have been finding a way to regulate it and also make some revenue while at it.

I think that many see the technology that is behind crypto as good for storing information that is meant to be kept private or confidential, however they do not appreciate the anonymity of crypto transactions and the lack of regulations for payment structures.

Well , then let them use this aspect of blockchain for themselves and allow people who wants to extend it to cryptocurrency investment to do so as well .