China Looking to Spend $2 Billion on Blockchain by 2023 - page 3.

hatshepsut93

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Quote from: cheezcarls on November 11, 2019, 05:00:18 AM

I would honestly say that since China censors anything that is anti-blockchain, this is a very good sign that they would finally adopt the blockchain technology in their country. Not only that, they removed cryptocurrency mining from the list of banned industries in the country.

What would be your thoughts about China spending $2 billion on blockchain in 4 years from now? What would be the possible effect in the cryptocurrency market?

Let me know your honest thoughts, comments or feedback about this one. Thanks in advance!

China can easily say that Bitcoin is bad, because it's used by terrorists or whatever other excuse they might come up with to ban it. You seem to think that Bitcoin is a part of some "blockchain technology", but people who advocate for blockchain tend to criticize and dismiss Bitcoin. This was even coined in a "blockchain, not Bitcoin" phrase that was popular a few years ago. All these companies and governments view blockchain as a tool to gain more power, they don't want no decentralization and freedom for regular people.

Kyraishi

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It's China - I think it's pretty apparent that they are undergoing something called Industry 4.0 (which is when a country or economy starts to focus on technology like blockchain's, robotics for more automation in the future).

It's going to be interesting to see how well that 2 billion is going to be spent, it's no doubt that China is a huge economy but how they spend all of this money is going to determine if they end up leading the blockchain revolution, or become a laughing stock

Velkro

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Quote from: cheezcarls on November 11, 2019, 05:00:18 AM

What would be your thoughts about China spending $2 billion on blockchain in 4 years from now? What would be the possible effect in the cryptocurrency market?

If i will see it i will believe it.
These are just word and often it happens when some people talking about investing in blockchain they have no clue in reality what it is.
They want to pretend as innovative and with knowledge when this is not true.
Only true usage of blockchain is Bitcoin and it will be hard to push it for elections because goverments want to control it themselfs, not by some technology they don't understand in million years.

ChrisPop

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Not your Keys, Not your Bitcoins

It's quite a paradox that communists which are supposed to be more outdated and more conservative(against new technologies) are investing more and more into blockchain tech while I don't hear much hype from the USA or great Europe countries like Germany or France.. They'd better step up their game or China will take the lead if it is not already leading.. Blockchain is just a more efficient way of doing things that also adds transparency, immutability, etc. to the process. Blockchain doens't mean cryptocurrency though.

muslol67

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234252344th article we read about China. But we hear different things every time. Nevertheless, as it is the country with the greatest potential among Asian countries, China's decisions are very important. I don't know if China's Blockchain investments will make a direct contribution to cryptocurrencies. But it will increase the awareness of Bitcoin.

mk4

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Quote from: cheezcarls on November 11, 2019, 05:00:18 AM

What would be your thoughts about China spending $2 billion on blockchain in 4 years from now? What would be the possible effect in the cryptocurrency market?

One thing's for sure, "China Looking to Spend $2 Billion on Blockchain" doesn't necessarily mean that China will be buying bitcoin or cryptocurrencies. As far as I know, it's most very likely for them to use the said money to build their own blockchain, most possibly for them to have greater surveillance over their citizens. If anything, it gives "blockchain technology" more legitimacy worldwide. Now, will that impact prices? Maybe, maybe not.

Jating

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Even prior to their current statement supporting blockchain, China Already Leads The Patent Race.

So obviously, they have embraced blockchain so I'm not surprised that they are going to spend huge amount as per the article in the next coming years. What will be effect on crypto? I guess we will have to see, I mean we all know that blockchain is not equal crypto, so we can't really say that it will bring positive news to the whole market in general.

cheezcarls

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China, the country that has recently jumped hard onto the blockchain train, will spend over $2 billion on blockchain technology come 2023.

According to a report from the International Data Corporation (IDC), a global market intelligence firm, the country will see an estimated increase of 65.7% in “annual growth rate” from 2018 to 2023.

Here is the source link for the news

I would honestly say that since China censors anything that is anti-blockchain, this is a very good sign that they would finally adopt the blockchain technology in their country. Not only that, they removed cryptocurrency mining from the list of banned industries in the country.

What would be your thoughts about China spending $2 billion on blockchain in 4 years from now? What would be the possible effect in the cryptocurrency market?

Let me know your honest thoughts, comments or feedback about this one. Thanks in advance!

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