Beijing is the strongest sponsor of the DLT

[thamer jamaladdeen]

Beijing is easily the strongest government
sponsor and proponent of DLT today.

Many casual observers of crypto don’t see this because they still think cryptocurrencies are banned in China.

In reality, they’re not. The only thing Beijing has targeted is Initial Coin Offerings and China-based exchanges.

Other than that, Chinese citizens can still own crypto and trade it over the counter or on foreign exchanges. What’s far more important is this fact:

Not a single Chinese DLT project was blocked by regulators. And there are many!

Indeed, China-based DLT developers and visionaries are among the most forward-thinking in the world. The Chinese government is itself involved in some of their most ambitious projects.

And it’s putting up big bucks.

The most prominent example:

China’s trillion-dollar investment in One Belt, One Road.

Beijing wants this to be the most ambitious infrastructure
project the world has ever seen.

This project is set to encompass 65 countries, stretching from East Asia to East Africa and Europe. And now …

Beijing is infusing DLT into the mix. It is engaging Matrix AI Network, a public open cryptocurrency platform, to act as the sole adviser for all things crypto (and AI) for the project.

Plus …

• NEO and Ontology founder Onchain is having talks with Shanghai’s Science and Technology Commission. They are discussing how to use DLT to serve multiple industries.

• VeChain partnered with the Shanghai Municipal Commission of Commerce and the Shanghai Liquor Monopoly Administration. They want to form “a complete product quality traceability system by 2020.” In other words, DLT-powered supply chain management systems.

• Waltonchain is working with major retailers and manufacturers that operate all over China. They want to create automated inventory management solutions for stores and production warehouses.
This is just a small sample! And China is not alone …