Chinese Government Meets With VeChain – Praising Its Tech

Even before that, the country has been bringing new laws and regulations, all for the purpose of making Bitcoin and altcoins essentially useless in the country simply by preventing anyone from using them, and even businesses from working with them.

Aggressive Chinese Government Policy

This behavior has been going on since 2017, and it makes it especially interesting to see that the country’s officials recently went to VeChain. What’s even more interesting to me is that they actually praised the project’s technology.

While the country does seem to be sending some mixed signals, this still comes as a refreshing change of pace. VeChain revealed that the officials visited its Singapore office, including leaders from three different districts — Shanghai, Huangpu, and Changning. The VeChain Foundation also disclosed the reason behind the visit — the officials’ intention to discuss potential transformative collaborations.

VeChain itself expressed its readiness to serve the community, enterprises, as well as the government itself.

China Interested in Blockchain for Their Own Purposes

Meanwhile, the government officials seem to be quite interested in the project’s blockchain and technology, even noting the important role that blockchain will play in the future of the digital economy. Now, this doesn’t have to mean anything, necessarily, but there is a possibility that it could mean a lot for the future of VeChain.

After all, China is the second-largest economy in the world, with only the US itself being bigger. However, at the rate at which it is growing, there are some assumptions that it could overtake the US in about 11 years, by 2032. And, let’s not forget that China is the country with the world’s highest population of over 1.4 billion, even exceeding India’s 1.3 billion.

So, if the Chinese government allows VeChain to operate in the country and become adopted, it will easily become the biggest blockchain in the world. After all, China loves blockchain technology. It’s crypto that it has a real problem with.

Do you think that VeChain could become the world’s biggest blockchain through adoption in China? Or do you think China will use VeChain tech to create their own crypto?

Leave a Reply

Your email address will not be published.

Related Articles
Read More

US Regulator Cracks Down On Crypto Betting Service Polymarket

To this point, the Commodity Futures Trading Commission (CFTC) recently issued a $1.4 million fine for the crypto predictions company Polymarket, which failed to comply with registration requirements. The firm was also ordered to issue refunds and shut down operations immediately. What Happened?Polymarket is a...
Read More

Tether Woes Compound As Fresh Bank Fraud Probe Looms

Stablecoin issuer and the company behind the largest dollar-pegged token, Tether is again at the center of the regulatory attack. Fresh allegations hint that the United States Department of Justice may probe the company executives for bank fraud. Fraud Investigation According to Bloomberg, the subject...
Read More

Sweden Central Bank Completes First Phase Of e-Krona Trials

Sveriges Riksbank, Sweden’s Central Bank, has released results detailing the first rounds of trials into a Central Bank Digital Currency (CBDC). The report shows an analysis of how the digital currency was used. The report has shown areas of weaknesses in the e-krona currency. These...
Total
0
Share