Chinese "Ebay" Bans listing of Cryptocurrency and Blockchain Related Services

Kotone

hero member

Activity: 1372

Merit: 503

Quote from: ATN.io on April 17, 2018, 01:45:42 AM

We are talking about China, so this could just fall under: nothing to see here.

However, what I find odd about this is that Taobao (also known as the Chinese "Ebay"), a subsidiary of Alibaba, is banning the listing of any services related to blockchain (not just cryptocurrency and ICOs), when China seems to be one of the major advocates of blockchain right now. Heck, Alibaba has even paired with other large companies to start a blockchain academy: https://www.forbes.com/sites/baymclaughlin/2018/02/08/this-week-in-china-tech-xiaomis-460-investments-tencents-gamble-and-a-new-blockchain-academy/#32e4f0af12d3.

You can read the full article here: https://futureblock.io/2018/04/15/alibaba-subsidiary-taobao-bans-listing-of-cryptocurrency-and-ico-services/

I think this just plays to the regulations and new laws of China with regards to their banning of bitcoin on the state of their country. Its natural that they would have services like this also ban or be configured to automatically know keywords such as those listed in above to not show in their network. Though this might sound as a very alarming and negative news, I still believe that someday China can be able to turn around their ruling and provide a very haven for cryptocurrency

ju5510993

newbie

Activity: 90

Merit: 0

Taobao's ban on ico related services is due to the fact that after China banned the ico in September 2017, some people still secretly provide some so-called ico services on taobao.

Block chain technology is still legal in China, and the government is optimistic about the development of block chain technology.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

Chinese news is no longer having the same effect as two years ago ever since they closed down their exchanges the first time and it became clear that they were reporting hugely fake volumes every day! and these bans will always continue to happen as long as things such as ICOs exist and they continue scamming people out of their money every day while there is nobody fighting them, not even the community!
this however has nothing to do with them being pro blockchain or bitcoin even.

VitKoyn

full member

Activity: 490

Merit: 106

It is confirmed that they will ban all products and services related to cryptocurrency including all related to blockchain technology and will take effect on April 17, 2018, here's the update on their website https://rule.taobao.com/detail-7969.htm?spm=a2177.7231193.0.0.7d9017eaIUYMET&tag=self (use google translate because letters are in chinese language). It is not shocking because it is a chinese company but it is weird because alibaba (holding company of taobao) which already said that they are planning to use blockchain technology while its subsidiary wants to ban ICO, cryptocurrency and blockchain tech services and products.

jseverson

hero member

Activity: 1834

Merit: 759

It's a little weird, but did they really specifically ban blockchain-related products? Their page is in Chinese so I can't confirm it myself, but is it at all possible that pretty much every blockchain-related product on their platform simply happened to be cryptocurrency-related, so they were all purged?

There doesn't seem to be too many applications at the moment that wouldn't involve cryptocurrencies in any way, and the few applications that are unrelated are unlikely to be marketed in such a site anyway.

ATN.io

jr. member

Activity: 41

Merit: 3

Quote from: ETHtotheMOON1 on April 17, 2018, 01:53:16 AM

Quote from: ATN.io on April 17, 2018, 01:45:42 AM

We are talking about China, so this could just fall under: nothing to see here.

However, what I find odd about this is that Taobao (also known as the Chinese "Ebay"), a subsidiary of Alibaba, is banning the listing of any services related to blockchain (not just cryptocurrency and ICOs), when China seems to be one of the major advocates of blockchain right now. Heck, Alibaba has even paired with other large companies to start a blockchain academy: https://www.forbes.com/sites/baymclaughlin/2018/02/08/this-week-in-china-tech-xiaomis-460-investments-tencents-gamble-and-a-new-blockchain-academy/#32e4f0af12d3.

You can read the full article here: https://futureblock.io/2018/04/15/alibaba-subsidiary-taobao-bans-listing-of-cryptocurrency-and-ico-services/

I'm pretty confused what is the reason for this. Supporting blockchain on one hand and banning them on the other hand, well I guess only time will tell what their real attitude is...

The only thing I can think of is the issue of blurred lines or ambiguous services that might be pretending to just be blockchain related, but are in fact related to ICOs/token/crypto, so instead of sorting through them they have just banned it all together. Who knows. Taobao does have a lot of sketchy stuff on it though, to be fair.

ETHtotheMOON1

jr. member

Activity: 280

Merit: 3

Quote from: ATN.io on April 17, 2018, 01:45:42 AM

We are talking about China, so this could just fall under: nothing to see here.

However, what I find odd about this is that Taobao (also known as the Chinese "Ebay"), a subsidiary of Alibaba, is banning the listing of any services related to blockchain (not just cryptocurrency and ICOs), when China seems to be one of the major advocates of blockchain right now. Heck, Alibaba has even paired with other large companies to start a blockchain academy: https://www.forbes.com/sites/baymclaughlin/2018/02/08/this-week-in-china-tech-xiaomis-460-investments-tencents-gamble-and-a-new-blockchain-academy/#32e4f0af12d3.

You can read the full article here: https://futureblock.io/2018/04/15/alibaba-subsidiary-taobao-bans-listing-of-cryptocurrency-and-ico-services/

I'm pretty confused what is the reason for this. Supporting blockchain on one hand and banning them on the other hand, well I guess only time will tell what their real attitude is...

ATN.io

jr. member

Activity: 41

Merit: 3

We are talking about China, so this could just fall under: nothing to see here.

However, what I find odd about this is that Taobao (also known as the Chinese "Ebay"), a subsidiary of Alibaba, is banning the listing of any services related to blockchain (not just cryptocurrency and ICOs), when China seems to be one of the major advocates of blockchain right now. Heck, Alibaba has even paired with other large companies to start a blockchain academy: https://www.forbes.com/sites/baymclaughlin/2018/02/08/this-week-in-china-tech-xiaomis-460-investments-tencents-gamble-and-a-new-blockchain-academy/#32e4f0af12d3.

You can read the full article here: https://futureblock.io/2018/04/15/alibaba-subsidiary-taobao-bans-listing-of-cryptocurrency-and-ico-services/

Topic: Chinese "Ebay" Bans listing of Cryptocurrency and Blockchain Related Services (Read 123 times)