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Majority of DLT Firms in China Were Scams or Poorly Planned

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hibi3454

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Hello everyone,

Today I would like to report that, as per the latest studies, a number of Chinese blockchain businesses that closed in 2019 were crypto-currency scandals or had defective economic strategies.

What do you guys make of this?
Thanks for Reading!
 
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China wished to live independently in every sphere of live. They had to initiate their blockchain technology without a close study to original blockchain technology. Hacking will bring them down as proper security measures were not in place.
 
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De-rector said:
China wished to live independently in every sphere of live. They had to initiate their blockchain technology without a close study to original blockchain technology. Hacking will bring them down as proper security measures were not in place.
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Exactly, without proper research China had taken a deep dive into the world of blockchain, and are now facing the consequences... as most of their firms have turned into scams or bankrupt
 
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I wouldn't doubt this or be surprised about it because a lot of scam goes on where there's cyptocurrency transactions, businesses and industries. Of course when once there's a fraudulent activity in a company it will always bring a collapse or total closure of such company
 
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Brain said:
I wouldn't doubt this or be surprised about it because a lot of scam goes on where there's cyptocurrency transactions, businesses and industries. Of course when once there's a fraudulent activity in a company it will always bring a collapse or total closure of such company
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Yeah this is exactly where the problem lies. Due to just one or a few cryptocurrency scams that are reported, people will avoid cryptocurrency as a whole to stay away from such scams
 
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hibi3454 said:
Yeah this is exactly where the problem lies. Due to just one or a few cryptocurrency scams that are reported, people will avoid cryptocurrency as a whole to stay away from such scams
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Definitely, personally I get sceptical about any bogus ad on crypto currency.i double check the information before taking a step about it. Crypto world is one area of transactions that I believe one should be very careful when dealing in it.
 
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Brain said:
Definitely, personally I get sceptical about any bogus ad on crypto currency.i double check the information before taking a step about it. Crypto world is one area of transactions that I believe one should be very careful when dealing in it.
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It is very good that you do your research before taking your steps ahead, more and more people should focus on doing this - yeah exactly one side of crypto is amazing and helpful and the other is just completely dark and filled with fakes and scams
 
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I read that China is building it blockchain again so they would have learnt a lot of lesson from the initial failed project. I like the fact that China love to be independent and support local content.
 
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