It’s that time again for the periodic warm-up of the “China is going on-chain” market hype.
Here’s the whole story in one sentence: the 15th Five-Year Plan for National Informatization, released on October 23, proposes that China basically complete a national blockchain network by 2030, with the Yangtze River Delta focusing on trade finance and the Chengdu-Chongqing region on large-scale industrial and agricultural applications.
And then? That’s it. Crypto trading is still banned domestically. This is a permissioned blockchain: who can join as a node and who can view the data are both subject to approval. What they want is “the chain” as a bookkeeping tool, not the coins in your hands.
I’ve already seen people using this to pump some “China-concept coins.” Even BSCN itself says assets like XRP may not be supported, while people in the comments are still asking if they’re about to take off. Come on—the country is upgrading databases for government services and supply chains. That has absolutely nothing to do with your token’s ability to capture value.
Veteran crypto traders should still remember how the “blockchain elevated to a national strategy” narrative was pumped in 2017—and how it later crashed. The bigger the headline, the more bagholders it attracts.
#区块链 #Crypto
Here’s the whole story in one sentence: the 15th Five-Year Plan for National Informatization, released on October 23, proposes that China basically complete a national blockchain network by 2030, with the Yangtze River Delta focusing on trade finance and the Chengdu-Chongqing region on large-scale industrial and agricultural applications.
And then? That’s it. Crypto trading is still banned domestically. This is a permissioned blockchain: who can join as a node and who can view the data are both subject to approval. What they want is “the chain” as a bookkeeping tool, not the coins in your hands.
I’ve already seen people using this to pump some “China-concept coins.” Even BSCN itself says assets like XRP may not be supported, while people in the comments are still asking if they’re about to take off. Come on—the country is upgrading databases for government services and supply chains. That has absolutely nothing to do with your token’s ability to capture value.
Veteran crypto traders should still remember how the “blockchain elevated to a national strategy” narrative was pumped in 2017—and how it later crashed. The bigger the headline, the more bagholders it attracts.
#区块链 #Crypto