What do recent headlines tell us about the necessary steps for crypto adoption?

Consentium
Jun 21 · 3 min read

A major blow hit the smartphone industry this week as a US government order blacklisted the Chinese smartphone giant Huawei following recent developments in the trade war. In compliance, Google has limited Huawei’s access to the Android Operating System. In order to adapt, future Huawei models will use Chinese-made equivalents for commonly used Google apps. The only way forward is out for Huawei, as it looks to debut its Huawei OS in the next models as early as this year.

The cryptocurrency world was also shaken when WeChat banned crypto trading activities effective 31 May 2019. An update to its payment policy stated that merchants engaging in cryptocurrency transactions would face termination of their accounts. It’s a harsh wake up call as most of China’s OTC trades are facilitated on WeChat, according to Primitive Ventures’ founding partner Dovey Wan.

This news aligns with the cautious stance by Chinese platforms that are tied to the cryptocurrency ecosystem. Alipay is monitoring over-the-counter transactions of Bitcoin and other currencies. Additionally, it is educating platform users to discern fraud schemes. It is important to note that despite the roadblocks imposed, China has welcomed blockchain technology with open arms, paving the way for blockchain patents and investing $3 billion in projects that develop use cases for the distributed ledger technology. The bans have targeted ICO and cryptocurrency-related activities as a precautionary measure against illegal intentions and abuse of crypto’s anonymity.

Tencent Technology has gone a step further by proposing three remedial measures for illegal financial activities:

1. Restrict the collection function of the problem platform receiving account, prohibiting it from using WeChat payment for virtual currency transaction collection;

2. Limit the amount of payment for individual seller accounts, only meet the daily social business use, and limit the collection of virtual currency related transactions. All the use of merchant numbers for the cleaning of virtual currency transactions has been completed;

3. Real-time monitoring of daily transactions, based on the monitoring results, the risk severity assessment of the hit transactions, or direct interception measures will be taken.

Similar to the push for innovation required of Huawei to surpass its roadblock, what can these developments positively influence? Binance Founder Changpeng Zhao said in a tweet that this is a case of “short-term pain, long-term gain.” Closing off the option of centralised WeChat communication can push cryptocurrency users to seek alternatives that are more plugged in to the needs of the crypto industry. The silver lining of this harsh updated policy is ultimately forced adoption.

Cryptocurrency users benefit from WeChat’s popularity and extensive base, however their experience is not optimised for their trading needs. There are opportunities for the growth of the crypto market and the improvement of crypto functions. As a cryptocurrency wallet and messenger, the Consentium app not only enables communication through its direct chats, groups and channels but also facilitates crypto transactions because of its in-app wallet.

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随着最近贸易战的发展,美国政府的一项命令将中国智能手机巨头华为列入黑名单,本周对智能手机行业造成了重大打击。 在合规性方面,Google限制了华为对Android操作系统的使用。

为了适应,未来的华为模式将使用中国制造的等同于常用Google应用程序的产品。在这些变化的当儿,华为唯有继续前进,并希望最早在今年在下一代机型上推出华为操作系统。

自2019年5月31日起,微信禁止加密货币交易活动,动摇了整个加密货币世界。

其支付政策的更新表明,从事加密货币交易的商户将面临账户终止。据Primitive Ventures的创始合伙人, Dovey Wan称,这是一个严厉的唤醒。这是因为中国大多数场外交易都是通过微信进行的。

这宗消息与中国与加密货币生态系统相关的平台的谨慎态度一致。 支付宝正在监控比特币和其他货币的场外交易。此外,它还教育平台用户识别欺诈计划。值得注意的是,尽管存在诸多障碍,但中国仍然以开放的态度欢迎区块链技术,为区块链专利铺平道路,并在开发分布式账本技术用例的项目上投资30亿美元。禁令将与ICO和加密货币相关的活动作为防范非法意图和滥用加密匿名的预防措施。

腾讯科技更进一步地针对非法金融活动提出了三项补救措施:

1. 限制问题平台受理账户的收款功能,禁止使用微信支付进行虚拟货币交易收款;

2.限制个人卖家账户的付款金额,仅满足日常社会业务使用,限制虚拟货币相关交易的收 款。已完成所有使用商户号码清理虚拟货币交易;

3. 实时监控日常交易,根据监控结果,对命中交易进行风险严重性评估,或采取直接拦截措施。

与推动华为超越其障碍所需的创新类似,这些发展能对哪些方面产生积极影响?币按创始人赵长鹏在微博上表示,这是一个“短期痛苦,长期收益”的案例。关闭集中式微信通信的选项可以促使加密货币用户寻找更符合加密行业需求的替代方案。这项严酷的最新政策的一线希望是最强制性的采用。

加密货币用户受益于微信的人气和广泛的基础,但是他们的体验并不能满足他们的交易需求。 加密市场的发展和加密功能的进步都有许多扩展的机会。作为一个加密货币钱包和信使,嘉信应用程序不仅可以通过其直接聊天、分组和渠道进行通信,而且由于其应用程序内钱包的存在,还可以促进加密交易。

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Consentium

CONSENTIUM is a crypto wallet, chat and community app that rewards you for your engagement. Through its innovative Community Monetization Model, you can get rewarded for being a wallet and chat active user. Visit us at www.consentium.net

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CONSENTIUM is the first chat app to reward users with cryptocurrency for any group or community they create and engage with. Visit https://www.consentium.net

Consentium

CONSENTIUM is a crypto wallet, chat and community app that rewards you for your engagement. Through its innovative Community Monetization Model, you can get rewarded for being a wallet and chat active user. Visit us at www.consentium.net

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