China: Calling Blockchain a ‘Scam’ Is Now Banned

The Chinese state is so serious about blockchain that they’re even outright censoring anyone who disagrees with the technology. Twitter account @cnLedger recently reported that articles in China that claim blockchain is a scam are now banned. This is a complete 180 from the state’s previous internet policy — which was hostile to anything cryptocurrency-related.

3/ Articles saying blockchain technology is a scam are now BANNED.

Who still remember the days when posts promoting blockchain getting deleted real fast? pic.twitter.com/W5iRJ3PDYS

— cnLedger (@cnLedger) October 28, 2019

Will China’s Blockchain Focus Affect Cryptocurrencies?

It is currently unclear whether or not the restrictions on talking about Ethereum and Bitcoin will be loosed as well. There seem to be some indicators that they will be. China’s most popular education app, Xuexi Qiangguo, now offers courses focused on blockchain — and there are even lessons on Bitcoin and Ethereum. It seems evident that cryptocurrencies will play a growing role in China’s blockchain push, despite not being mentioned by President Xi himself.

2/ China’s most popular app, Xuexi Qiangguo (study for becoming powerful nation) now has a recommended course focusing entirely on blockchain, which contains Bitcoin & Ethereum lessons. The app released by CPC to help ppl learn about its political doctrines like Xi's thoughts. pic.twitter.com/nRdCntNRAA

— cnLedger (@cnLedger) October 28, 2019

A Bittersweet Development

The news surrounding China is bittersweet and the recent reports of censorship demonstrate this in full. On the one hand, it is positive to see a massive economy and country like China going all-in on blockchain technology’s promise. It’s a major boom to the entire industry and will likely signal a turning point for the cryptocurrency world. On the other hand, China is leveraging the full extent of its security state to promote blockchain. It also plans to use the technology towards its policies of state control like the infamous ‘social credit system’ or tracking dissident content. Overall, blockchain’s rise in China could create a dystopic future — and, since no country has adopted blockchain before as state policy, it would set the tone for all future developments.

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