Cryptocurrency

China triggered the rise of bitcoin

Summary

How Bitcoin in China Is Subverting the System Description video: Bitcoin. It’s a big deal in China. It can be used to subvert government controls. And the government can’t shut it down. At the Oslo Freedom Forum, China Uncensored producer […]

How Bitcoin in China Is Subverting the System

Description video:
Bitcoin. It’s a big deal in China. It can be used to subvert government controls. And the government can’t shut it down. At the Oslo Freedom Forum, China Uncensored producer Matt Gnaizda sat down with Bitcoin expert Leo Wheese. He’s the President of the Bitcoin Association of Hong Kong.\n\nYouTube demonetizes our channels! We need your support!!\nhttps://www.patreon.com/ChinaUncensored\n\nWe also accept bitcoin!\nhttp://www.chinauncensored.tv/bitcoin/\n\nMake sure to share this video with your friends!\n__\nSubscribe for updates:\nhttps://www.youtube.com/ChinaUncensored?sub_confirmation=1\n\n__\nTwitter: https://twitter.com/ChinaUncensored\nFacebook: http://www.facebook.com/ChinaUncensored\nInstagram: http://instagram.com/ChinaUncensored\n\nor check out the China Unscripted Podcast!\nhttp://chinaunscripted.libsyn.com/\n__\n© All Rights Reserved.\n\n#bitcoin xrp libra bitcoin news btc

China triggered the rise of bitcoin

The price of bitcoin jumped up, offsetting the recent fall in the rate, after the President of the People’s Republic of China Xi Jinping noted the importance of blockchain technology and urged the country to develop intensively in this area..

The value of the world’s most famous cryptocurrency rose to $ 10,332 on Saturday, according to industry website CoinDesk. Since then, the price has dropped to $ 9,370..

According to local media reports, the Chinese leader urged to take advantage of the opportunity offered by blockchain, adding that the technology could benefit a range of industries including finance, education and healthcare..

Recall that earlier Beijing occupied tough stance regarding cryptocurrencies by banning ICOs and forcing local trading platforms to close in 2017.

People’s Bank of China is working on its own digital currency. The process accelerated after news that Facebook and several other companies are looking to shake up the global financial services industry with the Libra cryptocurrency.

The regulator created a research group back in 2014 to study the use of virtual currencies to reduce the costs associated with the circulation of traditional paper money. 

Facebook’s digital asset has come under scrutiny from the global economic community, raising concerns that the token will disrupt the financial system and can be used as a tool for money laundering and terrorist financing.

Legislators last week interrogated Mark Zuckerberg, who said that the social network will not participate in the launch of libra until it receives the approval of American regulators.

The bitcoin rate has increased by almost 150% this year. Analysts say companies such as Facebook, Fidelity, and the owner of the New York Stock Exchange have played an important role in this growth. Intercontinental Exchange.

China triggered the rise of bitcoin