The Effect of Digital Economic Governance on the Chinese Blockchain Industry

Cryptocurrencies, although in their infancy, are becoming increasingly important for the global economy. Bitcoin was the first invented cryptocurrency, created by a group or person under the pseudonym of Satoshi Nakamoto in 2007, allowing for the exchange of economic value by use of its verifiable and cryptographically secure blockchain. While many countries still don’t even know how to define cryptocurrencies, China has been regulating them for years. The Chinese tech industry also often exemplifies that it is at the forefront of global blockchain technology development with its numerous fast-growing companies and tokens such as DeepBrain Chain, Ontology Network, NEO, Tron, and QTUM, thus suggesting that the tech must be succeeding in certain areas, perhaps either as a result of government regulation, or in spite of it. This paper has contextualised the state of the Chinese blockchain industry in regards to a new type of blockchain political economy and in terms of the Chinese...Show moreCryptocurrencies, although in their infancy, are becoming increasingly important for the global economy. Bitcoin was the first invented cryptocurrency, created by a group or person under the pseudonym of Satoshi Nakamoto in 2007, allowing for the exchange of economic value by use of its verifiable and cryptographically secure blockchain. While many countries still don’t even know how to define cryptocurrencies, China has been regulating them for years. The Chinese tech industry also often exemplifies that it is at the forefront of global blockchain technology development with its numerous fast-growing companies and tokens such as DeepBrain Chain, Ontology Network, NEO, Tron, and QTUM, thus suggesting that the tech must be succeeding in certain areas, perhaps either as a result of government regulation, or in spite of it. This paper has contextualised the state of the Chinese blockchain industry in regards to a new type of blockchain political economy and in terms of the Chinese regulatory climate.Show less

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The Effect of Digital Economic Governance on the Chinese Blockchain Industry