China Becomes Pro-Blockchain As It Bans Anti-Blockchain Articles

China Becomes Pro-Blockchain As It Bans Anti-Blockchain Articles

Blockchain News
October 29, 2019 Editor's Desk
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As per the reports, the officials in China are in the process of deleting a post that says that Blockchain technology is a scam. This comes after China’s official acceptance of Blockchain. Chinese officials and president Xi Jinping caused a significant stir late last week after the latter gave a speech accepting Blockchain. He claimed that China
China blockchain

As per the reports, the officials in China are in the process of deleting a post that says that Blockchain technology is a scam. This comes after China’s official acceptance of Blockchain.

Chinese officials and president Xi Jinping caused a significant stir late last week after the latter gave a speech accepting Blockchain. He claimed that China would become the world’s leading advocator of the technology and will readily implement it for the betterment of their economy.

CnLedger reportedly mentioned that the process has already begun as major social media platforms are already censoring anti-blockchain posts. 

“Articles saying blockchain technology is a scam are now BANNED,” it stated.

The statement by Chinese officials caught attention due to the irony laced with it. In the past, it was content related to Blockchain and cryptocurrency, which administrators would try and remove. 

Blockchain platform Tron (TRX) benefited from the past week’s statements and developments. Within a matter of 24 hours, TRX/USD has gained almost 25%. This was the same platform that was under intense observation in the past.

CEO Justin Sun announced a collaboration with what he called a “mega-corporation” on the same day as Xi’s speech.

On other developments, it has to be noted that Xuexi Qiangguo, China’s most downloaded app on Apple’s App Store, will feature educational content focusing on Bitcoin (BTC) and Ether (ETH).

CPS News, a media service run by Xi’s Communist Party of China, has also released a tool that would help party members get a better understanding of the technology and its potential. 

In other recent news, China reportedly unveiled various use cases for Blockchain, including cross-border finance. 

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