China’s President called for expanding the blockchain. Bitcoin responded with growth to 10 thousand dollars

China’s President XI Jinping urged the country to accelerate the adoption of blockchain technologies. This statement the head of the head of the PRC at the regular session of the political Bureau of the CPC Central Committee on strategies for innovation development of China. The stock market very quickly reacted to the words took XI’s. Almost all the coins tonight show very strong growth, while Bitcoin rose by 25 percent over the past 24 hours. In the morning he even broke the level of 10 thousand dollars.

Innovation in every house

According to the President, the blockchain can be a key factor in the promotion of innovation in many industries.

We must consider the blockchain as an important breakthrough for the independent innovative development of key technologies, to clarify the main directions of their improvement, to increase investment and accelerate growth in the various industries.

It is noteworthy that the XI didn’t say a word about the cryptocurrency as such. China negative towards the crypt for quite some time. Recall that in 2017, the government banned the ICO, and later was introduced the ban on cryptocurrency exchanges. There were rumors that China does want to stop mining Bitcoin and altcoins.

Anyway, the statement clearly leaves the country all the negativity in the past.

The President’s words touch a centralized crypto-currencies of China, which is now engaged in the country’s Central Bank. Representatives of the Central Bank has not disclosed details about the progress with the coin, however, does not refute the rumors about her. While they responded to all of cryptocurrency: during the day, the market capitalization has increased from 206 to peak 262 billion dollars. Now the figure stands at 250 billion.

At the same time, another centralized bitcoin Libra from Facebook trying to crush the financial regulators of the United States. The project has already lost the support of a significant number of companies, including PayPal and VISA. The CEO of Facebook believes that America needs to act and also to implement their own blockchain technology, otherwise the palm in this area will go to China.

In any case, the positive feedback about the blockchain from the powers that be very well reflected in the price of Bitcoin. This rapid rise in price during the day was not a very long time.

Chart of Bitcoin over the last 30 days. Source: CoinMarketCap

The event was commented by Mikhail Korolev, founder of the resource 2Биткоина and co-founder of mining pool 2Miners.

Start with comic review: China's President XI Jinping clearly firmly invested in shares of Facebook. He then heard a statement by Zuckerberg at a recent hearing, where the past predicted China's leadership in the blockchain industry, if the United States fails to act, and decided to play along. After the statement of the leader of the country, U.S. regulators allowed the Brand to make a Libra, the stock price of Facebook flies in the heavens, and XI takes the cache. But it's all a joke.

In General, it is important to understand that mining Bitcoin and other cryptocurrencies plays a very important role in China. Industry at least brings a lot of money, because of what its representatives are in the ranking of the richest people in the country. To develop and maintain a profitable niche.

Source: Ecosia

The payment system in the country is already developed, and use them in China, almost everything. Now the management doesn't mind becoming a leader in another technology. To him it is obvious that sooner or later the Libra or equivalent-someone will do — this will not escape. Therefore it is better to lead the movement, than to be playing catch-up.

An important example is Bitmain. The Chinese company has earned billions in ASIC miners and significantly expanded its presence in the world. Now she is in particular engaged in the chips for artificial intelligence and other products. Obviously, the blockchain will have no less influence, so that to hinder the development of China does not want. Just a guide as it should work on the regulation of the industry.

The cryptocurrency continued to grow, join our cryptodata millionaires. And don’t forget to check in Yandex Zen — there is also interesting.


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