China leads future blockchain world against crypto?

Reviewing and compile blockchain industry topic, updating market references and research environment.

Today, we are picking up Chinese blockchain updates greater development against cryptocurrencies.

China Securities Regulatory Commission (CSRC), the country’s financial watchdog, has recently received an application for listing an exchange-traded fund (ETF) that will track blockchain-related stocks as underlying assets.

ETF is proposed to track and reflect the performance of Shenzhen-listed public stocks that have businesses in the blockchain industry, and first accepted application if this plan goes well.

https://fintechnews.hk/10692/blockchain/blockchain-in-china-blockchain-report/

In China, manny blockchain related activities widespread, efforts will be made to employ blockchain technology in multiple areas including housing, healthcare, tourism and trade, with a special fund of 1 billion yuan (US$142 million) set up to finance blockchain companies. In addition, China is home to about 5,290 blockchain developers, a number that’s still small compared to other countries, plus 260 enterprise blockchain projects were launched in China.

Weihai, a port city in Shandong province of eastern China, has a stern warning for investors, making sure you are really investing in blockchain innovation and not cryptocurrency masquerading as blockchain.

Other local authorities, including the police department and the Weihai branch of the central bank and China Banking and Insurance Regulatory Commission, have endorsed the statement and plan to carry out an inspection of illegal ICOs and crypto exchanges.

According to Roger Huang, the idea comes from being afraid of the individual liberties cryptocurrencies represent: the idea of a check and balance on overwrought incumbents, whether they are centralized corporations or states.

Against the crypto, blockchain is wrapped in enough centralized control for Chinese authorities, always keen to explore new technologies, to understand and to appreciate its key benefits in elongating their control, from transparency to traceability.

Chinese government awakens to lead blockchain development even the saving power of crypto unions.

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CollaboGate Research Blockchain and Technology Laboratory

CollaboGate is a global blockchain research group with protocols and industrial use cases, empowering decentralized projects to progress fast and innovative decisions at scale.

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Co-founder and CMO Collabogate, blockchain research and practical community

CollaboGate Research Blockchain and Technology Laboratory

CollaboGate is a global blockchain research group with protocols and industrial use cases, empowering decentralized projects to progress fast and innovative decisions at scale.

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