The blockchain climate in China has undergone plenty of changes in the past few weeks. Despite initial opposition to this technology, the current conversations are completely different. Any news source or blog discrediting blockchain technology will now be forced to remove those posts altogether. This further confirms China wants to embrace this technology to the fullest.
Another Push to Promote Blockchain
It is no secret the world didn’t see eye to eye regarding blockchain technology during the early stages. A lot of individuals, including those in governments, saw this technology as a mere fad that would eventually die out. In the real world, things have turned out very differently, as blockchain technology is now hotter than it has ever been. It appears anyone and everyone wants to become part of this new revolution by whichever means necessary. In China, there are a few interesting ventures underway to ensure this is exactly what will be happening in the near future.
The latest venture in China comes in the form of trying to censor any news source discrediting blockchain technology. So much even that the government will try to ban any of this information, probably by adding it to the Great Firewall of China’s blacklist. It is not an uncommon way of censoring services and information in China, although it is usually done to ensure consumers can’t access the correct information regarding blockchain or cryptocurrencies. This new measure is the complete opposite of what has gone on in China so far, which makes it all the more remarkable and interesting.
Following up on the new law
Earlier this week, it also became apparent the Chinese government decided to approve a new law that would promote the use of blockchain technology. This new cryptography decree seeks to boost the adoption of this technology, as well as create a legal framework from within developers and service providers can operate. Given how this new decree has the support of the Chinese president, it seems to be a mere stepping stone toward broader adoption of distributed ledgers.
All of these recent developments raise a lot of questions, for rather obvious reasons. China has never been too welcoming when it comes to blockchain, yet they are now doing a complete turnaround. No one knows exactly why these decisions were made in recent times, The overall tone is rather promising, albeit cryptocurrency enthusiasts should not get their hopes up by any means. Bitcoin and altcoin trading will remain outlawed for quite some time to come, albeit one never knows if that situation changes for the better.
Blockchain Course Rollout
Another intriguing development is how China’s Xuevi Qiangguo now has a recommended blockchain course it is trying to get more people interested in. Interestingly enough, this particular venture also focuses on Bitcoin and blockchain technology, which comes as a fairly big surprise. It seems likely to assume there will be more blockchain courses added in the future, either by the government or other parties.