Blockchian: Xi Jinping emphasized the use of blockchain

25 Oct 2019 by rate3

It's, obviously, not possible to establish precisely how many people in the world own crypto-currencies. Nonetheless, if we try to summarize several researches, which were cited in this group, there are about 60 million coin holders world-wide with 40% living in USA and the rest (60%) equally split (50/50) among Asia (mostly China and South Korea) and EU.

So, we have 24 million vs. 18 million, which, supposedly, gives to US 25% lead over China. However, as today's unique series of events have clearly demonstrated, the reality is quite opposite.

On the one side, when 3 days ago the head of one of the largest US corporations, which attempts to introduce the general public to digital money, is crucified by "clueless, smug, condescending congresspeople" (Twitter) the market drops about 5-6% on the next day.

On the other, when today at 3:14:26 am (PST) Chinese official news outlet publishes an article under the unreal header "In the 18th collective meeting of the Political Bureau of the Central Committee, Xi Jinping emphasized the use of blockchain as an important breakthrough for independent innovation of core technologies, and accelerated the development of blockchain technology and industrial innovation." (translated by Google) within a few minutes after that BTC/USD pair started to gradually rise and then jumped more than 10%.

That's one of the practical demonstrations (on both political and economical levels) of the short-sited policy's results when a country - the leader in most technological domains - voluntarily deny itself the competitive advantages in, arguably, one of the most important industries of the XXI century.