Commentary
The Chinese Communist Party (CCP) is no fan of cryptocurrency, especially Bitcoin. Not surprisingly, the elites in Beijing aren’t keen on NFTs either. It makes sense. Both are highly speculative assets. However, when it comes to blockchain, the underlying technology powering Bitcoin and NFTs, the CCP appears to be very interested. In this piece, you’ll see why.
In 2019, Chinese leader Xi Jinping spoke glowingly about blockchain. He called on business people and tech-wizards across the country to “seize the opportunity” presented by the revolutionary technology. The emergence of blockchain, according to Xi, signaled an “important breakthrough in independent innovation of core technologies.”…