Blockchain remains at the top of the Chinese economy
The Asian giant is rapidly increasing its influence on the largest platform for buying and selling crypto assets
The support of the president of China, Xi Jinping, to the blockchain pushed several investors to enter this market in a massive way. This trend shows the economic weight of the Asian giant and its empowerment towards the platform, consolidating even more its political influence worldwide.
The People’s Republic of China has remained for some time creating and innovating in projects based on blockchain technology, which has gained greater relevance is the virtual currency that will soon be issued by the government of this country. It is presumed that China’s need to boost products that impact the crypto market is due to the competitive potential promoted by the United States.
The future launch of the virtual currency Libra announced by Facebook, against which it plans to compete the virtual yuan, is considered one of the most containment project for China, due to how challenging Libra can be on the monetary policy of this country.
Trust in blockchain technology
The Asian giant bets on the development of this technology as a strategic element that will cause positive effects in the Chinese economy and counteract the attacks received by the United States to the main element of prosperity for the country trade sector.
Despite that, the crypto enthusiasm continues to reign in the Chinese territory. After a period of stagnation since the fall of cryptocurrencies in 2018, venture capitals focused on investments in blockchain technology are experiencing a new boom.
K.Villarroel
Source: thebtctimes
