China's State Media: Blockchain Needs Regulation to Grow

China’s State Media: Blockchain Needs Regulation to Grow


A full-featured function called “Three Questions to Blockchain” published Monday, the CPC’s official press has doubled due to the government’s commitment to using this technology and warns of the growing risk associated with some cases of its use.

This article provides detailed explanations on the use of blockchain in different sectors of the economy, such as financial services, charity, anti-counterfeiting and financial regulation.

This marks a significant step by China’s mainstream media in order to attract the attention of the blockchain to the public, remaining in line with the country’s central bank, the People’s Bank of China, which has imposed a ban on domestic initial coin offers.

In an interview with People Daily, Hu Danqing, a technology specialist from Antifa Financial Services, said: “Most of the current advertising campaigns aimed at raising funds and speculation, instead of actually solving the real problems with blockchain technology.”

Hu also suggested that regulators should play a more active role in activating their efforts to initiate mechanisms that will help the public distinguish technological innovations from those who raise funds.

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