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Perspective Cryptocurrency Projects Supported by China

https://doi.org/10.26794/2308-944X-2019-7-2-37-44

Abstract

In this article are discussed the most perspective cryptocurrency and blockchain projects that China is investing in. After the regulations regarding cryptocurrencies that is put forth by China, the Chinese government decided to create several financial bodies to regulate and develop the cryptocurrency. Despite the strict regulation of cryptocurrencies, China has been significantly investing in blockchain projects. China has developed the Digital Currency Research Institute (DCRI) of the People’s Bank of China — a research body under the aegis of PBOC that focuses on the research and development of digital currencies and blockchain-related technologies. China actively supports more than 40 platforms, mostly in such fields as AI, Deep Learning and Software. The Chinese government has shown a positive attitude towards blockchain technology. Blockchain and cryptocurrency come hand-in-hand (except a private chain where a token is unnecessary). In the nearest future, China plans to introduce a blockchain to the most different spheres. For this purpose, there will even double the volume of investment to 3 billion dollars, since the second quarter of 2018. “This technology can transform many spheres of our life. As soon as in the country pursue powerful technological policy, it is sure that even more companies will begin to work in the field of the blockchain” —the partner of the international consulting company PwC in Shanghai Chongg Chong Yin commented to journalists.

About the Author

N. Asadova
Financial University
Russian Federation

Novrasta Asadova

Master’s student, International Finance Faculty

Moscow



References

1. CBNEDITOR. 2018. Digital Currency Research Institute of the People’s Bank of China. Chinese Banking news. http://www.chinabankingnews.com/wiki/digital-currency-research-institute-peoples-bank-china/.

2. Dobrinka Blagojevic. 2018. Elastos (ELA) is the solution for spam infested internet, but there are reasons for concern as well. Crypto Journal; https://captainaltcoin.com/elastos-ela-is-the-solution-for-spam-infested-internet-butthere-are-reasons-for-concern-as-well/.

3. Russell Campbell. 2019. MATRIX AI Network — An Easier, Faster, Safer Blockchain 3.0. http://www.bitrebels.com/business/matrix-ai-network-easier-faster-safer-blockchain/

4. Official website matrix.io

5. Jeremy Lawlor. 2018. Chinese Cryptocurrencies That Could Be Worth Billions — 5 Low Market Cap Cryptos with High Potential for Growth. https://cryptoguidepro.com/best-undervalued-chinese-cryptocurrencies/.

6. Julia Bossmann. 2016. Top 9 ethical issues in artificial intelligence. https://www.weforum.org/agenda/2016/10/top‑10-ethical-issues-in-artificial-intelligence/.

7. Official website deepbrainchain.org.


Review

For citations:


Asadova N. Perspective Cryptocurrency Projects Supported by China. Review of Business and Economics Studies. 2019;7(2):37-44. https://doi.org/10.26794/2308-944X-2019-7-2-37-44



ISSN 2308-944X (Print)
ISSN 2311-0279 (Online)