It has been well known that the Chinese government are looking to create a nation cryptocurrency. After the news of Libra spread the Chinese also announced they would be looking to invest and promote lots of Blockchain related innovations.
Binance’s CEO, Changpeng Zhao aka CZ has recently had his say on the matter saying:
But when the country, President says, okay, we want to develop blockchain technology, of course, that gets spread out rather news and there’s a lot of hype around it and that causes the Bitcoin price to grow
In actuality did the President say anything about Bitcoin itself or just the technology. He then went on to say:
My understanding would be, they want people to understand that the technology, just like people understand the internet because only after you have a deep understanding of it, can you come up with a very smart way to manage it
He when on to state: it was “refreshing” to see the President of China, Xi Jinping, talk about blockchain technology so publicly. Then CZ claimed that China has been pro-blockchain since 2015, and has never been pro-Bitcoin or pro-cryptocurrency.
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