The casual observer of the world of bitcoin could be forgiven for thinking that China is hostile to the development of blockchain.
Just last month there were headlines about crackdowns on everything from bitcoin mining to a warning from the People’s Bank of China that banks and payment firms shouldn’t be providing crypto-related services.
However, as intuitive as such an observation feels, it would be wrong. In fact, as someone who lives on the ground in Beijing and is actively involved in the development of blockchain projects in China and around the world, I would argue that China has been, in its own way, the place where top projects can flourish, even to a greater degree than in the United States.
