China has reportedly published a second printing of its textbook guide on blockchain and cryptocurrencies. It educates readers about their future usage and potential impact on the world. While teaching about the former is more easily accepted, the latter might come as a surprise since crypto trading has been banned for years in the country.
China’s Blockchain and Crypto Guide
China’s Communist Party has released the second printing of a blockchain and cryptocurrency guide, according to a recent report. It indicates that the book is 200 pages long and consists of 23 different articles.
Some of the topics include technological aspects such as artificial intelligence and blockchain. Additionally, it provides information on monetary systems, global finance, and even cryptocurrencies. Moreover, it acknowledges digital assets right on the cover, as it purportedly says, “digital currency is inevitable in the course of history.”
The book might be coming as guidance for China’s planned state-backed cryptocurrency. It was announced last year, and it would be launched in November 2019, but it’s still to arrive. Some consider that the country didn’t fully know how to use the digital currency, which could have caused the delay. According to the report, the textbook might now provide officials with the needed information to clarify the coin’s future purpose.
China’s Views On Blockchain and Crypto
The People’s Republic of China has had its fair share of blockchain and cryptocurrency history throughout the years. For example, while most of the world was starting to pay more attention to both, back in 2017, the East Asian country decided to ban cryptocurrency trading.
Ever since then, the community considered China to be strictly against anything crypto. However, in October last year, President Xi Jinping urged for more investments in the blockchain sector. It had a seriously positive effect on Bitcoin’s price, but officials quickly made sure that there are no misconceptions about this. The country introduced a new regulatory update outlining that cryptocurrencies are still illegal, and it continued to run its “Blockchain, not Bitcoin” narrative.
With that being said, the publishing of its handbook guide on both topics could be regarded as a move in the right direction. However, its purpose might also be solely related to the nation’s upcoming state-backed digital asset.