Crypto Thought Leaders Say US Should Embrace Blockchain ASAP, Following China

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Fri, 10/25/2019 - 14:45
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Yuri Molchan
The Chinese General Secretary and President Xin Jinping has publicly stated that China has to embrace blockchain; the crypto community now wishes the US would do likewise
Crypto Thought Leaders Say US Should Embrace Blockchain ASAP, Following China
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As reported by a Chinese news outlet Xinhuanet, in a recent speech the President of China Xi Jinping has announced that China must take all advantages offered by the blockchain technology.

The speech was given at the 18th collective study of the Political Bureau of the Central Committee on October 25.

Thought leaders of the crypto community have put up their reaction on Twitter, praising China and wishing the US would follow its suit on the other hand.

Embracing blockchain, rejecting Bitcoin

China is famous for its crypto ban, which has been going since autumn 2017, when the country prohibited ICOs. A witch-hunt for crypto exchanges and crypto trading followed but many traders started using VPN.

Now, China is planning to eliminate crypto mining in the country and at the same time is working on launching its own Central bank-supported digital coin pegged to yuan.

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The crypto community leaders react to Xi Jinping’s statement

The prominent Tron and blockchain supporter and CCO of BeatzCoin, Misha Lederman, wrote on his Twitter page that the decision of the Chinese president is going to be beneficial not only for the global blockchain sector. China-originated DLT companies are also going to benefit from that, he said, naming in particular Tron, NEO, VeChain, Binance.

China DLT
Image via Twitter

The CEO of Binance, known as CZ, also tweeted, saying that Binance remains a Chinese blockchain company, despite the crypto ban in China.

Misha Lederman and VanEck’s Gabor Gurbacs after giving praise to the Chinese political leader expressed a wish that the US would follow the suit of China as soon as possible and embrace blockchain.

What impact, do you think, the announcement of the Xi Jinping will have on Chinese blockchain companies? Feel free to leave us a comment in the section below!

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.