How to Engage in Blockchain Without Being Banned in China

01.09.2018 | Beijing | Blockchain China Weekly

Last week, we discussed the widespread shutdown of several popular blockchain related WeChat Official Accounts due to the new regulatory changes in China that restrict the promotion of illegal ICOs and any investment plans into dubious cryptocurrency projects.

Recent developments in the Chinese blockchain market suggest that the blockchain scene is still vibrant and hosting meetups are allowed as long as it is not for illegal fundraisers.

Furthermore, the regulatory restrictions are localised in certain areas in China and it is up to the local authorities to decide on a case-by-case basis what actions to take in order to conform to the regulations.

As a demonstration of the continued interest of Chinese investors, talents and companies in cryptocurrency and blockchain, there was a successfully held event in Xi’an city. It is a second tier city, situated far away from the more famous and populous coastal cities. More than 1500 people attended the event that lasted three days from 25.08.2018 until 27.08.2018. You can see original pictures and blog articles about the event here and here.

Here is a short summary of that event:

It was organised by the co-working space Hash House and some prominent players in the blockchain field such as Jinse Finance. Speakers included famous entrepreneurs, scientists, industry experts and investors. The style of this event was based on attendant’s participation in gamified processes that demonstrated to them the fundamentals of the blockchain technology and what people can do with it in the near future.

Events like that show that it is possible to promote the useful and legitimate nature of blockchain’s technology. If your project’s focus is to deliver true market value to customers and to develop new technologies based on blockchain, there should be no worries about being blocked or banned in China.