China Softens its Stance on Crypto & Blockchain Favoring their Adoption

Aug 10 · 2 min read

Since 2017 China has had a hardline perspective of crypto, banning initial bitcoin offerings, shutting down trading exchanges for crypto and discouraging Bitcoin mining. But, in a recent interview, Jeremy Allaire, CEO, and Co-founder of Circle told how development in China shows that the country’s strong stance against cryptocurrencies is changing. He pointed out that China has now grown a softer corner for cryptos and now generally favoring the concept.

A major court in China notably defended crypto in July 2019 declaring it a property. Other than that the State Bank of China has been sharing information about Bitcoins adaptation and role in the modern world. It is no surprise that China has an important participation in the Bitcoin market through a number of offshore platforms.

Previously, Brazil introduced the concept of blockchain for its local transport system. In Fortaleza, the 5th largest city in Brazil with almost 2.7 million populations, Bitcoins and Altcoins will be accepted for payment of public transport. Cutting down the cost to introduce blockchain is a major positive in a time where cryptocurrencies are under constant criticism from several countries. This action will attract more investors and bring in new options for platforms working with blockchain not only in transportation industry but also in logistics arena. It will introduce new playgrounds for BitNautic that is already getting popular among different continents including Malta Maritime Hub.

Bitnautic is a platform working in the shipping industry to improve the overall infrastructure. It believes that the introduction of blockchain can help with problems like theft, wrecked cargo and insecure payments which will prevent millions of dollars of loss annually. Bitnautic serves you with an option of choosing your carrier service provider based on his previous record along with the shortest route and safest shipping of your cargo. It also purposes secure and efficient payment system via BTNT cryptocurrency. Want to know more? Have some suggestions? Feel free to write to us.


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    BitNautic is a Decentralized Shipping and Cargo platform based on Blockchain Technology.

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