Topic: China’s President Xi Urges Accelerated Blockchain Technology Adoption (Read 628 times)
November 03, 2019, 10:56:13 PM
Asia is the top leading cryptocurrency market because it has got powerful leaders with insights in the Blockchain technology and cryptocurrency. It is became more apparent when the Chinese President Xi Jinping announced his interest in the Blockchain technology and cryptocurrency. In fact, putting such words into implementation can bring BTC to its ATH high and even beyond again.
November 03, 2019, 10:11:27 PM
I dont know where you learned this but is very wrong. China is peoples republic. Ruled by its citizens. It is not a dictatorship. How much capital have influence on government I have no ideas. But for sure much less then in most other countries.
China is not only a dictatorship, but it is going BACKWARDS. Prior to 2012, at least the President changed every ten years, as mandated by the Senior Communist Party Politburo.
Now Xi Jingping is president for life and anyone who criticises him ends up in a concentration camp. The repression is having an effect on China's economy - people are too scared to take risks and don't know what will land them in trouble, so they're keeping their heads down. That's fine for surviving in a dictatorship, but not great for promoting progress and growth.
Well, that is his way of being a leader, he maybe a dictatorship but look at the way of living in China now, look how successful they are compare to a democratic country wherein the corruption is everywhere and the government officials are the ones who are making a lot of money.
For China to have their own blockchain development, it's not a surprise anymore, it is already anticipated that they are doing something different, and broader as they wanted to compete with Bitcoin someday.
November 03, 2019, 09:51:11 PM
I dont know where you learned this but is very wrong. China is peoples republic. Ruled by its citizens. It is not a dictatorship. How much capital have influence on government I have no ideas. But for sure much less then in most other countries.
China is not only a dictatorship, but it is going BACKWARDS. Prior to 2012, at least the President changed every ten years, as mandated by the Senior Communist Party Politburo.
Now Xi Jingping is president for life and anyone who criticises him ends up in a concentration camp. The repression is having an effect on China's economy - people are too scared to take risks and don't know what will land them in trouble, so they're keeping their heads down. That's fine for surviving in a dictatorship, but not great for promoting progress and growth.
November 03, 2019, 07:51:10 PM
China will always find a way to be on top of everything, they've mentioned that they have been looking at this technology for the past several years, quite surprising considering that they restrict Bitcoin, I guess what trigger the adoption, is Facebook's announcement of Libra coin, which will accelerated Facebook dominance in the e-commerce and they don't to be the one late in doing this.
November 03, 2019, 07:23:23 PM
I still don't understand how china of all places could be supportive of blockchain.
Blockchain is a technology (that we use mainly on money but could probably used for something else) that decentralized the power and considering China is a nation that is ruled by dictatorship and gangrapes prisoners and harvest their organs and burn alive the opposers of the regime and all the crazy horribly bad Hitler level and even worse stuff they do, they can't deal with blockchain.
What is the purpose of giving the power back to people if you are running a fully automated human killing and dictator enriching nation? Sure, you can use it just for yourself and your part and ban it for the people who you despise (lets be honest Xİ hates Chinese, why would he act like to them if he liked them) but that doesn't seem to be the reason for it.
Blockchain is a technology (that we use mainly on money but could probably used for something else) that decentralized the power and considering China is a nation that is ruled by dictatorship and gangrapes prisoners and harvest their organs and burn alive the opposers of the regime and all the crazy horribly bad Hitler level and even worse stuff they do, they can't deal with blockchain.
What is the purpose of giving the power back to people if you are running a fully automated human killing and dictator enriching nation? Sure, you can use it just for yourself and your part and ban it for the people who you despise (lets be honest Xİ hates Chinese, why would he act like to them if he liked them) but that doesn't seem to be the reason for it.
The word "blockchain" doesn't mean anything specific these days, ever since the hype started, people started attributing some magical properties to it, like saying that it's more secure, unhackable, faster and cheaper, that it's automatically decentralized and so on. It piqued interest of many centralized organizations, including governments, and now they think that since blockchain is such an awesome technology that can do anything, then it surely can make them even more powerful.
So, China's blockchain will be just a database with some cryptography, that's in case it will actually go live and not be quietly abandoned if they realize that it's not working very well.
November 03, 2019, 03:02:25 PM
China is peoples republic. Ruled by its citizens. It is not a dictatorship.
Erm, try running for president out of the blue and see how many body parts you finish up with. Anywhere calling itself 'Peoples' or 'Democratic' is a surefire giveaway that they're anything but.
Democratic People's Republic of Korea. Double whammy!
There is good and bad qualities for blockchain, the Chinese government is planning to take the blockchain aspect to implement a centralized currency so that each and every transactions made by its users can be monitored and i am sure they will have all the wallet details and you need to provide your KYC to get a wallet 
. If it is used in a decentralized set up it can be anonymous but if blockchain is used in centralized set up all the transactions can be verified and followed by the government.
. If it is used in a decentralized set up it can be anonymous but if blockchain is used in centralized set up all the transactions can be verified and followed by the government.I wouldn't be surprised if one of the first uses would be for their social credit score. Making Nosedive even closer to reality.
They've seen what blockchains Bitcoin can be used for so there's no doubt they are both inspired and threatened. If blockchain is the future, then better start investing research into it now. Obsolete yourself.
November 03, 2019, 01:37:29 PM
China is peoples republic. Ruled by its citizens. It is not a dictatorship.
Erm, try running for president out of the blue and see how many body parts you finish up with. Anywhere calling itself 'Peoples' or 'Democratic' is a surefire giveaway that they're anything but.
November 03, 2019, 12:37:39 PM
... China is a nation that is ruled by dictatorship and gangrapes prisoners and harvest their organs and burn alive the opposers of the regime and all the crazy horribly bad Hitler level and even worse stuff they do, ...
I dont know where you learned this but is very wrong. China is peoples republic. Ruled by its citizens. It is not a dictatorship. How much capital have influence on government I have no ideas. But for sure much less then in most other countries.
Blockchain and its cryptography and economics is important technology and sciences that have to be studied. Not only in China but also as we see lately in France and I am sure in other part of world.
November 03, 2019, 11:18:16 AM
Blockchain is a technology (that we use mainly on money but could probably used for something else) that decentralized the power and considering China is a nation that is ruled by dictatorship and gangrapes prisoners and harvest their organs and burn alive the opposers of the regime and all the crazy horribly bad Hitler level and even worse stuff they do, they can't deal with blockchain.
There is good and bad qualities for blockchain, the Chinese government is planning to take the blockchain aspect to implement a centralized currency so that each and every transactions made by its users can be monitored and i am sure they will have all the wallet details and you need to provide your KYC to get a wallet . If it is used in a decentralized set up it can be anonymous but if blockchain is used in centralized set up all the transactions can be verified and followed by the government. November 03, 2019, 11:09:19 AM
Blockchain technology will have many devotees, Especially after the Chinese president issued a statement that they will adopt Blockchain technology. Of course the presidents of other countries I think will follow the steps taken by the Chinese government. If that happens then we will see a new era of the Crypto world
November 03, 2019, 08:43:09 AM
Most funny stuff around the new Chinese crypto is how the Chinese government is deleting all old articles about cryptocurrency ban and how evil are cryptocurrencies 
I'm curious to see their interpretation and implementation of blockchain... and how it will be connected to the Chinese rating system. My guess is everybody will have one and only one government wallet, connected with their rating ID.
I'm curious to see their interpretation and implementation of blockchain... and how it will be connected to the Chinese rating system. My guess is everybody will have one and only one government wallet, connected with their rating ID.
November 03, 2019, 08:36:35 AM
My take on this :-
They want China to dominate in every sector and seeing how it's a farm for technical advancements and also the cryptocurrencies and Bitcoins are doing well in this they think it could be a major step towards that.
Trust me the countries who can adopt it and can take that as a serious matter are gonna be so so much ahead of the time and China is not letting that slip from their hand.
They want China to dominate in every sector and seeing how it's a farm for technical advancements and also the cryptocurrencies and Bitcoins are doing well in this they think it could be a major step towards that.
Trust me the countries who can adopt it and can take that as a serious matter are gonna be so so much ahead of the time and China is not letting that slip from their hand.
November 02, 2019, 10:51:31 PM
Blockchain already change everything. Look how they react, some of them are even engaging in a sense of they are hoping for lift up from unfortunate situation like Venezuela. Others are creating their own crypto currency it is just undoubty inevitable once you grasp the essence of blockchain and the whole crypto currency though.
November 02, 2019, 02:33:13 PM
I think you could make a centralized dictatorial blockchain as well if you want. Blockchain offers you the right to be decentralized and secure and transparent but that doesn't mean you have to use it that way. From this "urges accelerated blockchain technology adoption" I kinda understand "find me a way that is still blockchain but I can still be a dictator" if you ask me.
Like who the hell would think dude wants a decentralized system to get bigger in his nation, we all know that dude won't give up his power at all, which means he wants to take advantage of the good parts of blockchain but remove the bad parts from it (good for us, bad for him) which is the "accelerated blockchain" in his mind, he can't come up and say "lets remove decentralization out of blockchain" directly.
Like who the hell would think dude wants a decentralized system to get bigger in his nation, we all know that dude won't give up his power at all, which means he wants to take advantage of the good parts of blockchain but remove the bad parts from it (good for us, bad for him) which is the "accelerated blockchain" in his mind, he can't come up and say "lets remove decentralization out of blockchain" directly.
November 02, 2019, 05:07:37 AM
Blockchain could really transform the way government officials work under the administration. Blockchain follows principles such as transparency, and security through blocks hash. However, it's seems that China is not going to tolerate decentralized system, instead they're making their own "digital currency" that would still be monitored, but at least transparent provided that the ledger is distributed and not hidden centralized. Corrupt acts would potentially lessen and therefore makes progress faster for the country.
There was also the sayings of the many people in which because of the announcement of President Xi to the Chinese community that they will adapt the process of blockchain technology to be able to make their own digital currency that may help them to manage and transact a good and transparent transaction to the people of cryptocurrency through the help of their new digital currency.
November 02, 2019, 04:26:34 AM
I don't know what mean by China president with adoption blockchain bitcoin or altcoin as legal transaction payment, we want to play with bitcoin price for get profit or just playing drama with bitcoin and altcoin price, if they are serious want to adopt bitcoin maybe China president have asking for their institution for prepare needed to adopt bitcoin and altcoin transaction, but now still not have seriously how to adopt bitcoin in China.
What I know is that they only want to adopt Blockchain technology, not want to adopt Bitcoin, because they will most likely make their own Crypto for use in China. But if later they want to adopt Bitcoin I think it is a good step for the world of Crypto because it could be that the price of Crypto will increase.That's because they cannot control or profit from bitcoin. It makes sense they want their people to adopt their own crypto which is under their control. It is a bit odd though TBH since they don't like bitcoin and spoke about it like they were against it. They not against technology they against whoever controls it. Now they can mine their own currency and mind their own business and have their own blockchain separate from ours.
One thing I do wonder is how much of Chinese mining hash rate will be used for its new coin?
China doesn't have any other option. It is impossible to control bitcoin that's why they come up to this decision. They wanted to gain the same popularity and they have seen the possibility of using blockchain technology for future purposes.
November 02, 2019, 02:11:45 AM
They really could specially those corrupt officials who are certainly hiding behind. Blockchain is something like a system that we do not need to even trust the other participants. Everyone on the networks has a copy it is more like a transparency in each for everyone. Plus it cannot be changed. We don't even need an institutions in the middle to work with it. Which on the other hand Governments are trying to opposed because it could be a bridge for people to commit fraud, and other sorts of illegal transaction. I guess it may changed the government a bit but I don't think it will go through in full effect.
November 01, 2019, 09:19:19 PM
Blockchain could really transform the way government officials work under the administration. Blockchain follows principles such as transparency, and security through blocks hash. However, it's seems that China is not going to tolerate decentralized system, instead they're making their own "digital currency" that would still be monitored, but at least transparent provided that the ledger is distributed and not hidden centralized. Corrupt acts would potentially lessen and therefore makes progress faster for the country.
There was also the sayings of the many people in which because of the announcement of President Xi to the Chinese community that they will adapt the process of blockchain technology to be able to make their own digital currency that may help them to manage and transact a good and transparent transaction to the people of cryptocurrency through the help of their new digital currency. November 01, 2019, 03:56:48 PM
I don't know what mean by China president with adoption blockchain bitcoin or altcoin as legal transaction payment, we want to play with bitcoin price for get profit or just playing drama with bitcoin and altcoin price, if they are serious want to adopt bitcoin maybe China president have asking for their institution for prepare needed to adopt bitcoin and altcoin transaction, but now still not have seriously how to adopt bitcoin in China.
Maybe the Chinese president thinks talking about blockchain makes him seem hip and happening. We saw a lot of Wall Street types talking about blockchain for that very reason!
November 01, 2019, 01:23:34 PM
That is one unique thing that I have always read about blockchain, generally speaking everyone irrespective of your believe or political system agrees that blockchain is the technology of the future. Although, the President might not know how it works because largely he might not be technology inclined but his people would have showed this to me. However, this should not be interpreted to mean as an endorsement for bitcoin and other crypto using the blockchain technology because doing that would be farther away from the truth however, there is a bonus there that in as much as there is a loud support for blockchain, there is a subtle support for bitcoin and other crypto whether they want to admit it or not.
I don't know what mean by China president with adoption blockchain bitcoin or altcoin as legal transaction payment, we want to play with bitcoin price for get profit or just playing drama with bitcoin and altcoin price, if they are serious want to adopt bitcoin maybe China president have asking for their institution for prepare needed to adopt bitcoin and altcoin transaction, but now still not have seriously how to adopt bitcoin in China.and the possibility of the news can only affect the increase in bitcoin or other crypto.
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