The President of China Xi Jinping praised blockchain technology during an open speech this May 28th. He also pointed out to the technology as a potential one in the country’s future plans.
Xi spoke at the Chinese Academy of Sciences’ nineteenth annual conference in Beijing. During the conference, Xi included blockchain as an example of a “new generation” of technologies that is apparently delivering “breakthroughs”.
As he stated:
“Since the 21st century began, global scientific and technological innovation has entered an unprecedented period of intensive activity. A new round of scientific and technological revolutions and industrial changes is reconstructing the global innovation map and reshaping the global economic structure,”
China’s president continued, stating that:
“The new generation of information technology represented by artificial intelligence, quantum information, mobile communication, internet of things, and blockchain is accelerating breakthroughs in its range of applications.”
The high profile plugging of the blockchain continues the recent trend by Chinese authorities to come to grips with the technology’s capabilities. As one government spokesman said (quoted by the local media):
“We have established verifiable blockchain programs in China, and nearly 200 private enterprises have expressed interests to join. [This] will help blockchain technology and industry to become more transparent and open,”
According to some rumors present this month, the official government ratings for blockchain projects are currently in progress, following the release of 26 cryptocurrency ratings this May 17th. However, Beijing also appeared skeptical about foreign blockchain projects this week in a survey, claiming that their average lifespan is just 15 months.
Russia Is Not Planning To Buy $10 Billion In Bitcoin
“This statement has no common sense. The Russian Federation — like any other country in the world — is simply not ready to combine its traditional financial system with cryptocurrencies.”Sidorenko reacted to the fake news reports from Telegraph where it was noted that Russia wants to invest $10 billion in bitcoin in order to mitigate the economic impact that is brought up from the US sanctions. The rumors emerged on Twitter where a particular user wrote that Kremlin has no choice but to invest in bitcoin and that it is the only way to avoid the harsh sanctions by President Trump. Ginko posted on Twitter and his post went viral after Telegraph wrote a story about it and lots of other websites just added their own touch to it. Ginko is known to the public for making such shocking tweets and comments after once saying that sham investment adviser Bernie Madoff is the real Satoshi Nakamoto. However, Sidorenko said that Ginko’s comments are absurd:
“Even if Russia wants to place its cryptocurrency assets now, it simply cannot do this. We do not have any mechanisms that would allow us to introduce a system: where these assets would be stored, which authorities would be responsible for it, which would be responsible for abuses and stuff.”However, according to Tota Kaliaskarova, the director of macroeconomic policy with the Eurasian Economic Union says that crypto could have a huge impact on the Eurasian economy.
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