Chinese Bank Invests in Bitcoin (BTC) Digital Wallet
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Answer Chinese Bank Invests in Bitcoin (BTC) Digital Wallet
Many things have changed since Chinese President Xi Jinping announced the adoption of blockchain technology, which has become an important achievement for the independent innovation of core technologies in China and abroad.
revealed The state-run Xinhua News Agency said Xi extolled the potential benefits of blockchain technologies in a range of industries including finance, education, health care, and food security…
These positive statements about blockchain technology may seem rather banal as they sound like a statement any world leader would make regarding the emerging technological class.
But the Chinese president’s comments will already have a huge impact on China’s efforts.
So much so, that a Chinese bank invested in a startup in the field of Bitcoin custody.
Read:Binance partners with TravelbyBit to launch a travel reward card that supports cryptocurrency
There have been many rumors and opinions analyzing the death of Bitcoin in China, but this seems exaggerated.
According to Primitive Ventures co-founder Dovey Wan, China Merchant Bank has just announced an investment in BitPie, a bitcoin wallet with a long history used by many users in China.
China… China Merchant Bank just announced its investment in BitPie, the Bitcoin wallet with the longest history and most users in China…
😳😳😳
With it being a dishonest wallet, there can be a non-zero chance….[redacted] 🤐🤐🤐
🗝 🦖 (DoveyWan) October 28, 2019
According to Dovey Wan analysis, this is the beginning of the Chinese nationalization of the crypto and bitcoin industry which comes in response to President Xi’s comments and the massive public response thus far.
It is important to note that this is not the first time that a Chinese bank has entered into a direct relationship with cryptocurrencies.
Earlier this year, the Bank of China, which is not to be confused with China’s eponymous central bank, released an entire article about Bitcoin.
Read:The Binance platform announces the amendment of the terms and conditions and bans a number of Arab countries
Yesterday #Bank of China Publish an article about # bitcoin. Explain how BTC dollars It works, why does the price go up and why is it worth it. I never thought I’d see that happen. 😅 # Diagonal pic.twitter.com/GKzj7XJjJa
Read:Binance platform transfers more than a billion dollars to other wallets … and the president declares
– Samson Maw (Excellion) 27 July 2019
This all appears to be part of the public and private reactions to President Xi’s remarks.
Which made China and its people look at blockchain technology and cryptocurrencies with a different view, after an explicit invitation from their leader to adopt blockchain technology.
Read also:
After China, the UAE wants to establish a clearer regulation of cryptocurrency and blockchain
How does China intend to support blockchain technology? And what does this have to do with Bitcoin?
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