China Walks Back Hardline Media Rhetoric Toward Crypto and Blockchain
The global crypto community weighs in
To better assess the implications of China’s apparent change of heart toward blockchain tech and Bitcoin, Cointelegraph reached out to Matvey Voytov, the chief marketing officer of Waves, a private blockchain solution designed to compete with existing DLT platforms. Lastly, Andre Szykier, the chief technology officer Bitcoin ATM operator Blockchain BTM, told Cointelegraph that with China is seemingly committed to creating a gold-backed security token offering with a stated reserve of 13,000 tons — similar to what Russia has proposed for the ruble.
In order to gauge whether local sentiment toward crypto and blockchain technology in China has actually changed since the 2017 blanket ban came into effect, Cointelegraph reached out to Alex Lam, CEO and co-founder of digital asset services platform RockX. In his view, the Chinese government’s ban — which, at the time, was in response to an increasing amount of unregulated crypto market activity taking place within the country — ended up bringing digital currencies such as Bitcoin and Ethereum to the attention of many who had not heard of them before:
“In my opinion, the 2017 ban led to no big change in people’s perception of cryptocurrency technologies.”
