Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
Dubbed the gathering of Liang Hui or “both assemblies”, which commenced in Beijing on March 3rd, it is scheduled to run for 10 to 14 days and it is an event where major political decisions are discussed. It is a meeting of the National Congress of the Chinese Communist Party which aims at electing those in power by reflecting the aspirations of the Chinese people and the policies that will lead them.
Although Liang Hui 2018 has only recently begun, participants were quick to bring up a very sensitive issue: the future of Blockchain technology on Chinese markets. And, while China has clearly banned ICOs and has shown itself to be against the use of cryptocurrencies, this sentiment was not echoed during discussions at the summit. Moreover, the ambitions of the Middle Kingdom and its use of cryptocurrency could prove useful in their global conquest.
https://www.youtube.com/watch?v=NvD4n8qbw90
The two assemblies brought together be Liang Hui are the Chinese National People’s Congress (NPC) and the Chinese People’s Political Consultative Assembly (PCC).
The first is the equivalent of the US House of Representatives and according to the country’s constitution, is the most powerful institution in China. While the PCC is another powerful organization composed artists, businessmen, athletes, non-members of the Communist Party and many more.
Some of the most ambitious proposals regarding Blockchain technology have come from Wang Pengjie, a member of the PCC who belongs to the minority Zhi Gong party. In his speech, he recognized the economic advantages of cryptocurrency and drew a parallel between “Bitcoin, Ether, and Litecoin, whose combined market caps exceed that of Tencent, China’s largest internet provider.” According to Penjie, the government, its central bank and the country’s regulatory commission, the CSRC, need to legislate cryptocurrencies which will provide companies with a better way for fundraising.
Pony Ma, the CEO of Tencent, he seconds this idea. “The invention of Blockchain is a great technological feat” and his company is “actively exploring different applications for the technology” but has no intention of launching their own cryptocurrency.”
It seems that exhortations from the Chinese people have now been multiplied. Zhou Yanli, a PCC member and former member of the Insurance Regulatory Commission, has expressed his belief in an insurance system based on Blockchain technology. In fact, during April of 2017, ten other Chinese insurance companies admitted to having experimented with the idea of an insurance system based on the tech.
While many speakers such as the Mayor of Hangzhou, renown for being Alibaba’s headquarters, are in favor of China’s use of Blockchain technology, there are still a few voices who are speaking out against the issue.
For most, it’s hard to disassociate Blockchain technology from cryptocurrency and according to Zhou Hongyi and Ding Lei, it’s even harder for China to accept the idea of decentralized organizations.
For Hongyi, the head of a cybersecurity company known as Qihoo 360, Bitcoin is the only application for Blockchain technology and that the “countless hackings of exchanges are proof that the technology still needs to be improved.” He also brought up the fact that it is entirely possible for “someone” holding 51% of the Blockchain’s computing power to take over control of the network.
As for Ding Lei, CEO and founder of NetEase, the power of Blockchain technology is based solely on speculation.
All these ideas being tossed around during the first 3 days of Liang Hui will surely give the Chinese authorities a better idea on how to clarify their stance on cryptocurrencies and their underlying technology: the Blockchain.
MicroStrategy, the software and business intelligence firm, has once again made waves in the cryptocurrency market with its...
3 days ago | Kim Sorgson
Why 55,500 More Bitcoins?
3 days ago | Kim Sorgson
The U.S. election results have sparked a whirlwind of excitement in the cryptocurrency space. With Donald Trump’s unexpected...
3 days ago | Kim Sorgson
The Bitcoin Act of 2024: A Framework for the Reserve
3 days ago | Kim Sorgson
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
Trending
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
BitEXC's Grand Launch in Vietnam: A New Era of Crypto Trading Revolution
1 day ago | Phillip Small
Is the U.S. Government's Bitcoin Sell-Off a Catastrophic Misstep?
1 day ago | Abraham Saynes
Today's Top Stock Movers: Winners, Losers, and What It Means for Investors
3 days ago | Kim Sorgson
MicroStrategy's $5.4 Billion Bitcoin Bet: What It Means for Investors and the Future of BTC (Updated 01.12.2024)
3 days ago | Kim Sorgson
Tezos (XTZ) Review 2024: Everything You Need to Know Before Buying Tezos
.article-container { font-family: Arial, sans-serif; line-height: 1.6; color: #333; backgrou...
Chromia (CHR) Review 2024: Everything You Need to Know Before Buying Chromia
Illuvium (ILV) Review 2024: Everything You Need to Know Before Buying Illuvium
My Neighbor Alice (ALICE) Review 2024: Everything You Need to Know Before Buying My Neighbor Alice
Star Atlas (ATLAS) Review 2024: Everything You Need to Know Before Buying Star Atlas
OQtima
Oqtima is an emerging online trading platform that offers a wide range of financial instruments, inc...
Saxo
Saxo Bank is a leading global online broker offering a wide range of financial instruments, includin...
FXCC
.article-container { font-family: Arial, sans-serif; line-height: 1.6; color: #333; background-c...
Quadcode Markets
Quadcode Markets is an online brokerage offering a wide range of financial instruments, including fo...
Trading 212
Trading 212 is a popular online broker offering a range of financial products including stocks, ETFs...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
China Turns the Debate in Favor of Blockchain Technology
Dubbed the gathering of Liang Hui or “both assemblies”, which commenced in Beijing on March 3rd,...
The Best 20 Cryptocurrencies in 2024: Growth, Value, and Potential
In 2024, the cryptocurrency market continues to thrive, offering investors numerous...
Transfering Bitcoin to Your Bank Account
While most crypto exchanges only offer crypto-to-crypto trading, there are also those with...
Missed the Bitcoin Wave? Catch the Next Big Crypto Trend and Avoid Regret
.article-container...
The Top 10 Coins by Market Cap in 2024
Cryptocurrencies have taken the financial world by storm, providing decentralized alternatives...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)