China Banned Crypto, Then Turns Around And Nationalize Blockchain Technology In China
Chinas runs same old playbook yet again, taking over a new thriving industry locally, by getting rid of all major competition in China, and then assign all rights and privileges to state back firms.
If you ban it don’t do it China, stop cheating your way to the top.
I am talking about China banning all blockchain and crypto projects in China in 2021, then go ahead and assign state back firms to run blockchain technology to compete with the rest of the world’s young growing crypto space. Shamelessly event the NFT space is no limit for China, see what Fortunes reports
Blockchain Services Network, a Chinese state-backed blockchain company, plans to roll out infrastructure that would allow individuals and businesses in China to make, sell, and buy NFTs.
Make no mistake, this is a grand plan to dominate and outperform the crypto space worldwide. Using state sponsored firms with unlimited support to win the blockchain war and in turn the future of money and payment protocols.
This should be a wakeup call to all democratic governments worldwide to take this act of oppression and cheating seriously, the world can not afford to allow China to run the same playbook as it did for industries like manufacturing, we know how that turned out after over 40 years of state sponsored successful efforts to run out the competition worldwide, today china is the manufacturing hub of the world and the rest of the world dependent on it like a drug.
Remember 2020 the start of the pandemic and nations like Britain and my country the United States waiting on mask supplies and PPE to arrive via planes from China and Asia to protect their people.
This is a matter of national security for all democratic nations. They need to figure out how to help Crypto and the Blockchain technological space to thrive in their respective countries or China will take over your money system.
They need to encourage new players into the space and regulate them and not try to fit old industry players, the same group that sold out on their respective countries, all in the name of profit to allow this Chinese's problems we have today.
Blockchain and crypto are for the new not the old hands to create.
Allow young and innovative minds to build the future not old corporations, its will be much easier to regulate them that way and will help usher in this new world of possibilities.
To law makers protect blockchain technology, encourage crypto, do it the right way for your country. Do not let corporate lobbyist cloud your judgment and cause delays.
While we all debating in the US who can and should run Stablecoins, DeFi and Cryptocurrencies, China on the other side of the world is building out a formidable and well funded options. Do not let them run the Tiktok playbook on Blockchain.
The take over will be fast and swift. Crypto projects worldwide needs its governments to act against this aggressive and unfair acts from the People Republic Of China.
Thank you for reading.
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