
China's Xi urges development of blockchain technology - the_rosentotter
https://www.reuters.com/article/us-china-economy-xi/chinas-xi-urges-acceleration-of-development-of-blockchain-technology-idUSKBN1X419Y
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adelHBN
According to coindesk.com, the motivation for the new law is to "encourage
research and development on commercial cryptography technologies, while
building up an inclusive standardized regulatory system for the market." Note
the word "standardized".

But couldn't this new law potentially backfire on China's need for
standardization and control as new technologies develop on blockchain?

For example, Blockstack is a U.S. company that works with blockchain (I am not
affiliated with them in any way). As I understand it, Blockstack platform has
the potential of decentralizing the web and providing an environment in which
all information created by users is stored in their own devices, and not in
some centralized, government server. I am sure technologies such as that in
Blockstack can be developed in China too. If so, wouldn't that potentially
undermine China's growing national surveillance mandate?

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carrozo
Is this why Bitcoin shot up 24% in the last 24 hours?

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ddmma
Marc Z. just become consultant for Mr. Xi

