Topic: China’s President Xi Urges Accelerated Blockchain Technology Adoption - page 2. (Read 628 times)
November 01, 2019, 01:21:32 PM
You can't "accelerate" blockchain technology by just urging people. You will need to take proper steps so that people adopts the technology. Moreover, the government is more focused on the centralized shitty state crypto currency they are trying to make. That coin won't give you any financial freedom. It is just going to make it easier for the government to track all your transaction and spy on your financial aspects anytime anywhere.
November 01, 2019, 12:57:43 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.
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?
November 01, 2019, 08:06:43 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.
November 01, 2019, 07:27:40 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. 
November 01, 2019, 07:17:06 AM
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.
If I am to reverse your statement, I would say that I see no reason why china has not even embraced the Blockchain technology long time ago knowing fully well how it will be more helpful to their population in terms of economic benefit first, and in terms of job creation. You see, one of the fear of government has been the tax before, they feel that with Blockchain technology, people will start avoiding the tax until they found a way around it which is why they are creating their own personal cryptocurrency that they can have full time control over.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 can be used in so many areas, they will use if fully to develop those areas other than the financial aspect where they would still want to have full control over, in which one of it is the crypto they are making.
October 31, 2019, 11:57:18 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. 
October 30, 2019, 10:25:06 AM
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.
October 28, 2019, 11:39:26 PM
Blockchain technology has many advantages and can be applied in all fields. and by adopting a blockchain I think a country's economy will be more advanced. because the transaction process will be safer, transparent, cheaper and can also prevent corruption. because every transaction process can be seen by all parties. and I also heard that China will make its own currency. therefore the Chinese government now gives orders to immediately adopt blockchian technology.
October 28, 2019, 10:32:58 PM
Blockchain technology is undoubtedly the real deal in some countries despite their crackdown on cryptocurrencies, They really can't deny their fascination for this kind of innovation. In your opinion do you think blockchain can transform Governments?
Talking about financial technology, of course, is inseparable from Jack ma, founder of Alibaba, who is also a member of the communist party. Since the beginning, Jack Ma has been anti-bitcoin and other cryptocurrencies but is very supportive and appreciative of bitcoin technology that provides security and privacy for its users.
Do you think blockchain can transform governments?
What is meant by transformation is a change in form, appearance or nature. Maybe the right choice of words is the transformation of government policy rather than his government.
The purpose of the call for accelerating the application of blockchain technology for commercial banks in China is for the purpose of overseas Chinese interests. This is related to China's foreign policy to become a superpower and hopes to be the first leader. China is transformed from an imitation country into an innovative country, it is hoped that innovation in the blockchain will prevent American domination in this field.
2020 is a political year for the United States, they concentrate on securing American elections from foreign intervention. The Chinese president sees this as a good opportunity to steal a start so that America does not lead.
October 28, 2019, 10:19:05 AM
Does this issue have anything to do with trade war. It could be that China is designing a system that was originally an ordinary blockchain into cryptocurrencies blockchain. Nowadays many are trying to terminate their trading business, maybe if they use cryptocurrencies for trading, making their buyers & seller to be anonymous and tax-free. This is just my crazy idea, don't think about it.
October 28, 2019, 10:16:43 AM
Understanding blockchain very well, we will see that it can really transform the government, both politically, economically and structurally because these 3 are all connected, and if any of these three gets it right, then others have also gotten it right.
For china to have reconsidered their stand of blockchain technology which the news was what made the value of bitcoin to spike of recent, they must have seen the very high advantage of blockchain technology along the line, which is why I even think that they were not too quite in making that decision of banning mining of cryptocurrency, although I know that with time, when they are fully ready with their own technology, they might actually be regulating most of these external cryptocurrency activities other than their own.
For china to have reconsidered their stand of blockchain technology which the news was what made the value of bitcoin to spike of recent, they must have seen the very high advantage of blockchain technology along the line, which is why I even think that they were not too quite in making that decision of banning mining of cryptocurrency, although I know that with time, when they are fully ready with their own technology, they might actually be regulating most of these external cryptocurrency activities other than their own.
October 28, 2019, 07:57:02 AM
But it is going to be very difficult to differentiate Blockchain from Bitcoin, because both of them are part of the same innovation or idea. The inventor is the same for both.
Satoshi is not the inventor of blockchain. I'm not exactly sure about how long chains of blocks already exist, but they did so before the internet boom in 2000 already.
What Bitcoin does is put the same principle to work in the most valuable possible way, which unfortunately, is something people completely disregard as they only focus on the crap that has been launched in the more recent years where the term blockchain is only used to gobble up investor money.
In the real world, people have no clue whether they use blockchains or not, nor do they care about that, all they want is something to work and the price for that something to be low. Bitcoin has contributed to that by forcing institutions to improve services and make them cheaper to use.
October 28, 2019, 07:42:56 AM
This. It's all about sidelining the independent cryptocurrencies like bitcoin, ethereum etc and replacing it with something only the govt can develop and mine (and thus is controlled by the govt).
But the harder they go at making their own crypto, the more compelling the case will be for the real ones. It's a pretty much guaranteed correlation.
Current fiat currencies are an epic and unfathomable mess of ancient and modern systems rubbing up against each other. Driving people into apps like Wechat certainly helps to get past that but a proper ground up governmentcoin will massively increase their power.
I guess what they're aiming for is a system so all encompassing that they can trace and penalise any P2P transaction for proper crypto. If there's no cash any more and anyone can be booted from the one and only monetary system then it just might work even then people might resort to barter or proxies.
October 28, 2019, 07:37:55 AM
This is what we are waiting for, the big boys are now recognizing and trying to get into the blockchain technology revolution and this is a good news for the end and for the start of next year because we can expect that there will be more blockchain technology related projects that are created by the chinese government since they are now a fan of this kind of technology.
But be careful because with this development it seems that the big boys are only interested about the blockchain technology and that in the process, they might simply dump at the sidewalk the existing cryptocurrencies including the top Bitcoin and Ethereum. This announcement implies that they will utilize it for many reasons and one of these reasons is of course the creation of their very own cryptocurrency or digital renminbi which is nothing but an improved version of fiat, but still fiat.
This. It's all about sidelining the independent cryptocurrencies like bitcoin, ethereum etc and replacing it with something only the govt can develop and mine (and thus is controlled by the govt).
October 28, 2019, 07:14:51 AM
The government is a variety of regulations in the regional order. thinking about increasingly advanced technology, it's possible the government has to keep up with the technological progress. The government will definitely adapt the conditions where the ego of one character is compared to the benefits for many people. If the government adopts the blockchain they will transform the concept in this case financial management.
October 28, 2019, 05:32:59 AM
President Xi Jinping is really a pro-blockchain technology. Even me can't argue that blockchain is really a good innovation and development for a country. Blockchain is not just about cryptocurrency, there are also different fields where we can apply the said technology. It can really transform the government for good, even the development of the country. But it can also transform a government for bad if it will be use for personal benefits.
Though we still can't figure out what will happen and the plans of the president because he's not really into crypto- only blockchain. And we don't know how it'll will affect the market in the future.
Though we still can't figure out what will happen and the plans of the president because he's not really into crypto- only blockchain. And we don't know how it'll will affect the market in the future.
October 28, 2019, 04:47:58 AM
Dude, both ban mining but then suggests their own currency, then bans ICO but then suggest blockchain technology adoption. He doesn't really know what he is doing with crypto world, first he looks like he is against it then he says something he supports it, even the Chinese don't know what they should think about the situation there. They supported to have bitcoins for example but they are banned from mining it.
Unless it's from someone's own mouth or hand there's no real way of knowing what their attitude is. Government everywhere is totally sprawling and may not have a clue what some department elsewhere is up to. I remember a former UK PM saying the first time they heard about a new policy was when it was launched by another office somewhere.
From what's emerging it looks like they are acknowledging actual crypto a little more than I first expected.
This is probably the most informative place to keep an eye on developments - https://twitter.com/DoveyWan
October 28, 2019, 04:44:21 AM
Dude, both ban mining but then suggests their own currency, then bans ICO but then suggest blockchain technology adoption. He doesn't really know what he is doing with crypto world, first he looks like he is against it then he says something he supports it, even the Chinese don't know what they should think about the situation there. They supported to have bitcoins for example but they are banned from mining it.
How could you both be supportive of buying bitcoins and be against mining it at the same time? It makes no sense. This dude is so used to doing whatever the hell he pleases that nobody even questions him, he can do the most stupidest things ever and the Chinese are forced to like him no matter what because if they say anything against him then they will be killed, along with their families as well.
How could you both be supportive of buying bitcoins and be against mining it at the same time? It makes no sense. This dude is so used to doing whatever the hell he pleases that nobody even questions him, he can do the most stupidest things ever and the Chinese are forced to like him no matter what because if they say anything against him then they will be killed, along with their families as well.
October 28, 2019, 01:47:44 AM
I think the blockchain is very useful for its transaction system. But the bank is still using their system by adopting a blockchain may be more transparent when the transaction occurs where the money flow is sent.
So I think yes could be blockchain can change the government if the authority of the country is legalized.
So I think yes could be blockchain can change the government if the authority of the country is legalized.
October 27, 2019, 06:15:19 AM
It seems even the cheeky Chinese themselves have difficulty untangling the thought that 'blockchain' has little to do with Bitcoin in the minds of those up the top.
Obviously Xi Jinping is as hostile as ever to the idea of cryptocurrency. He wants to use the Blockchain technology, because it can become a very efficient weapon to track the spending habits of the Chinese citizens and it can give the power to the Chinese government machinery to keep a log of each and every activity done by these people.
But it is going to be very difficult to differentiate Blockchain from Bitcoin, because both of them are part of the same innovation or idea. The inventor is the same for both. And unfortunately, the Chinese government probably want to use Blockchain technology for something diametrically opposite to what Saotshi Nakamoto thought about it.
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