On Friday, President Xi Jinping referred to the blockchain as “an important innovative breakthrough in the field of technology. "
Xi pointed to the potential benefits of blockchain technology in various industries, including finance, education, healthcare and others.
The statement of the Chinese president instantly affected the assessment of the cryptocurrency market.
And it seems that rumors about the death of Bitcoin in the country are exaggerated.
According to Davy Wang, founding partner of Primitive Ventures, China Merchant Bank has announced an investment in BitPie, the longest-running Bitcoin wallet with a huge user base in China.
China Merchant Bank is the country's largest financial institution with hundreds of branches.
According to Wang, the partnership may be the beginning of the nationalization of cryptocurrencies in the country.
It is important to note that this is not the first time thata Chinese bank enters the crypto space. So, earlier this year, Bank of China (not to be confused with the central bank of China of the same name) released an infographic dedicated to the Bitcoin cryptocurrency.
CL Twitter Twitter user confirms Bitcoin’s return to mainstream in China.
Chinese government has organized a nationwide blockchain exam competition. The study material they see?
First class is literally titled: Application of Blockchain: Bitcoin
Goes on to describe how it solved double spending, advantage over AliPay and WechatPay, and so on. Insane pic.twitter.com/XUjEjNRvcs
- CL (@ CL207) October 26, 2019
The analyst noted in his post that the Chinese government "organized a nationwide blockchain exam." And this can only be the tip of the iceberg.