NewsLogical
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
NewsLogical
No Result
View All Result
Home Bitcoin

Why Expert Claims Decentralised Exchanges Will Soon Dominate China

by Jack Marshall
April 19, 2019
in Bitcoin, Cryptocurrency
2 min read
0
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

China’s proposed ban of Bitcoin (BTC) has been a subject of discussion in the crypto space.The regulatory step has since received both backing and criticism due to the image China hold in the cryptocurrency.

However, a number of experts like eToro’s senior analyst, Mati Greenspan, have termed the ban proposal a blessing in disguise for Bitcoin (BTC) and the world of cryptocurrency, claiming that the hike in price of the electricity in the country will correspond to the price growth of Bitcoin (BTC).

The attempt of banning Bitcoin (BTC) mining in China will as a matter of fact affect the country’s economy since China is biggest market for computer hardware designed to mine Bitcoin and some other digital assets.

Donald Tapscott on the Ban and the Future of Cryptocurrency in China

According to a report, the executive chairman of the Blockchain Research Institute, Donald Tapscott, has claimed that Renminbi (RMB), the official Chinese currency will soon be changed to a cryptocurrency.

Donald Tapscott further shared that he was in a meeting in China with the Communist Party’s Vice Chairman, who revealed the thought of Chinese President, Xi Jinping, about blockchain and the connection it has with the growth of technology for the future of the country.

In Tapscott’s view about the proposed ban of cryptocurrency mining in China, he said it is indeed unnecessary to ban crypto mining in China.

Read his statement below;

“It’s not really necessary to do that [to ban exchanges and mining] because in 20 years we are not going to be using bitcoin in China. Chinese people will use the RMB, only the RMB will become a cryptocurrency. The central bank of China will turn it into a digital currency.”

Decentralised Exchanges will soon dominate Centralised ones in China

Tapscott further added that the transparency and the ability to swiftly identify “bad behavior” within the crypto space has given decentralised exchanges an edge beyond the centralised system of currency exchange, which would boost the chances of the former dominating China.

History of Renminbi (RMB)

Renminbi is known to be the official currency of the People’s Republic of China needed to buy or shop upon visiting the country. The currency is also called Yuan and kuai by the citizens of the country.

According to history, People’s Bank of China created Renminbi in 1948 purposely to initiate harmony in China in terms of unification of currency since there were several types of currencies in circulation in the country back then. Also, the creation of Renminbi gave the Communist Party the prominence to control the whole land of China.

Tags: Decentralised ExchangesRenminbi (RMB)
ShareTweetShareShareShare
Disclaimer

Our authors have investments in cryptocurrencies. However, NewsLogical does not endorse any cryptocurrency project referenced in any of our article. Kindly read our editorial policy. In this wise, do not use any information presented here as investment advice.

Do your personal research before making any investment in cryptocurrency, the market is generally volatile.

Follow us on Twitter telegram facebook.

Jack Marshall

Related Posts

Bitcoin
Bitcoin

BTC.TOP CEO Say Bitcoin V-Pattern Normal for A Bull Run-Oriented Halving

by Khalid Lawal
December 15, 2019
0

The CEO of Chinese mining pool BTC.Top, Jiang Zhuoer, has said the v-pattern on Bitcoin chart at present is not...

Read more
Bitcoin’s Present Growth Is a Little Compared to What is Coming – John McAfee

Bitcoin Aficionado John McAfee Quits Cryptocurrency Promotion

December 15, 2019
Not Owning Bitcoin is an Investment on is Own – Rhythm Trader Explains

Bitcoin Didn’t Need Permission to Innovate – Anthony Pompliano

December 15, 2019
Bitcoin

Bitcoin Adam & Eve Reversal Fails, Risks Drop Below 6,800 in 2 Days – Analyst

December 12, 2019
No Result
View All Result

Highlights

Bitcoin Didn’t Need Permission to Innovate – Anthony Pompliano

Binance Partners Latamex, Launches Fiat Gateway in Latin America

Bitcoin Adam & Eve Reversal Fails, Risks Drop Below 6,800 in 2 Days – Analyst

Revisiting CME Group’s Investment in Ripple Labs Inc.

Morgan Creek CEO: Bitcoin Better than Gold, To Reach $500K in 10 Years’ Time

Digibyte’s Founder Rants as Binance.US Moves to List Justin Sun’s TRON (TRX)

Trending

Bitcoin
Bitcoin

BTC.TOP CEO Say Bitcoin V-Pattern Normal for A Bull Run-Oriented Halving

by Khalid Lawal
December 15, 2019
0

The CEO of Chinese mining pool BTC.Top, Jiang Zhuoer, has said the v-pattern on Bitcoin chart at...

XRP is not a Good Retail Name, Says XRP Community Member

US Gov. Affirms Continued Growth & Adoption of Ripple (XRP) Remittance System

December 15, 2019
Bitcoin’s Present Growth Is a Little Compared to What is Coming – John McAfee

Bitcoin Aficionado John McAfee Quits Cryptocurrency Promotion

December 15, 2019
Not Owning Bitcoin is an Investment on is Own – Rhythm Trader Explains

Bitcoin Didn’t Need Permission to Innovate – Anthony Pompliano

December 15, 2019
New Hash rate ATH: The Aggregate Computing Power Of Bitcoin Network Reached 109.2 EH/s

Binance Partners Latamex, Launches Fiat Gateway in Latin America

December 12, 2019

Follow Us

  • 221 Fans

Recent News

Bitcoin
Bitcoin

BTC.TOP CEO Say Bitcoin V-Pattern Normal for A Bull Run-Oriented Halving

by Khalid Lawal
December 15, 2019
0

The CEO of Chinese mining pool BTC.Top, Jiang Zhuoer, has said the v-pattern on Bitcoin chart at present is not...

Read more
XRP is not a Good Retail Name, Says XRP Community Member

US Gov. Affirms Continued Growth & Adoption of Ripple (XRP) Remittance System

December 15, 2019
Bitcoin’s Present Growth Is a Little Compared to What is Coming – John McAfee

Bitcoin Aficionado John McAfee Quits Cryptocurrency Promotion

December 15, 2019
Not Owning Bitcoin is an Investment on is Own – Rhythm Trader Explains

Bitcoin Didn’t Need Permission to Innovate – Anthony Pompliano

December 15, 2019
New Hash rate ATH: The Aggregate Computing Power Of Bitcoin Network Reached 109.2 EH/s

Binance Partners Latamex, Launches Fiat Gateway in Latin America

December 12, 2019
Facebook Twitter Telegram


NewsLogical Inc. is a U.S.-centric firm established in 2019 with the aim of providing resourceful and up-to-date cryptocurrency and blockchain information.

Address: 530 Seventh Avenue, Mezzanine,

New York, NY 10018, United States.

Email: info@newslogical.com

Read More.

Dislciamer


Contents on NewsLogical.com are only for informational purposes and should not be construed as financial or investment advice.

Trading cryptocurrency is considered a high-risk activity that requires technical knowhow because digital currencies are generally volatile.

Contact financial experts for guidance before making any cryptocurrency investment decision.

Read More.

About us

  • About
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Privacy Policy
  • Team
  • Write for Us

© 2019 NewsLogical

No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • XRP News
  • Price Analysis
  • Coin Guide
  • About
    • Team
    • Editorial Policy
    • Privacy Policy
    • Write for Us

© 2019 NewsLogical