CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$61,449.00
  • ethereum
    ETH$2,421.68
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » Mark Zuckerberg Is Right About China: President Xi Jinping Urges Investment in Blockchain Technology

    Mark Zuckerberg Is Right About China: President Xi Jinping Urges Investment in Blockchain Technology

    Author: Jordan Lyanchev

    Last Updated Nov 7, 2019 @ 14:07

    During the 18th Collective Study of the Political Bureau of the Central Committee, China President Xi Jinping stated that the country should increase its usage of blockchain technology. This comes just a few days after the CEO of Facebook, Mark Zuckerberg, told the U.S. Congress that if the United States doesn’t adopt blockchain, it risks falling behind countries such as China.

    China to Invest More in Blockchain

    The 18th Collective Study of the Political Bureau of the Central Committee is taking place today in China. The president of the country, Xi Jinping, who is also the General Secretary of the Communist Party, offered his views on numerous topics, including blockchain. He emphasized the importance of adopting the technology:

    “The integrated application of blockchain plays a critical role in technology innovations and industrial revolutions. Blockchain should be made an essential way and main direction to drive China-led technology innovation. We must increase investments in the blockchain sector, resolve critical technical problems, and accelerate the development of blockchain and industrial innovation.”

    China has been linked to blockchain and cryptocurrencies before. In fact, earlier this year it was announced that the country would launch a state-backed cryptocurrency. It will be distributed through institutions and major corporations such as Alibaba, Tencent, and the Bank of China.

    Zuckerberg Was Right

    The CEO of Facebook appeared before the U.S. Congress on Wednesday. The hearing was focused on Libra, the social media giant’s planned cryptocurrency project. However, the discussion touched upon other topics as well.

    While Congressman Brad Sherman said that Bitcoin and other cryptocurrencies might be a potential threat to the U.S. dollar and its role in the financial world, Zuckerberg warned Congress about the consequences of inaction. According to him, the U.S. must take necessary steps to adopt blockchain innovations, as “China is moving quickly to launch similar ideas in the coming months.”

    ADVERTISEMENT

    With the most recent announcement by the President of China, it appears that Zuckerberg’s prediction might actually be correct.

    Featured image courtesy of Flickr

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

    You Might Also Like:

    • TezosChina
      China's Blockchain-Based Service Network (BSN) Integrates Tezos
    • AndrewBragg
      The Future is Technology by Blockchain, Australian Senator Says
    • bmw_cover
      BMW Korea Goes Blockchain: Reward Program Inbound
    Tags: Blockchain Blockchain Adoption China Xi Jinping
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

    button
  • bitcoin
    BTC$61,449.00
  • ethereum
    ETH$2,421.68
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    bigomex
    Bitcoin Editorials
    4 Reasons Altcoin Season 2021 Has Officially Started

    4 Reasons Altcoin Season 2021 Has Officially Started

    After Tesla: Is Apple Eyeing Bitcoin? What We Could Expect to See Next (Opinion)

    After Tesla: Is Apple Eyeing Bitcoin? What We Could Expect to See Next (Opinion)

    What Is NFT? Non-Fungible Tokens Guide For Dummies

    What Is NFT? Non-Fungible Tokens Guide For Dummies

    What is BitClout? The Latest Crypto Hype – Is It Safe?

    What is BitClout? The Latest Crypto Hype – Is It Safe?

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!