News

Just How Much of a Boom Has China’s Blockchain Attitude Shift Made?

0

For those invested in Bitcoin, the announcement that China was doubling down its efforts with blockchain came as a big boost. The price of the major cryptocurrency benefited from this reawakening in China. 

However, the far-reaching consequences from this decision by Chinese President Xi Jinping to formally note that China is invested in blockchain have done more than move the price of Bitcoin. There have been clear and obvious big changes in China, from mining operations to VC investment.

 However, what is even more interesting to note is just how much that announcement from the president has formally affected the Chinese investment space in relation to the blockchain. In order to try and quantify this, LongHash looked into China’s A-shares and investment markets.

“A-shares are stocks listed on one of mainland China’s two stock exchanges, the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE). These stocks are valued in renminbi, China’s national currency, and foreign investment access to them is limited, so they can be a good barometer for how China’s domestic investors are feeling,” LongHash outlined.

What was interesting too, with these regards to interest in blockchain, was the data from SSE’s e-interview platform and SZSE’s Easy IR platform, two interactive platforms that allow investors to interact with listed companies. 

Information from just before the president’s blockchain announcement, and information from a few days later, showed a huge spike in the chatter about blockchain investment.

“On SSE’s e-interview platform, we found a total of 565 question-and-answer exchanges during this time, of which 136 (24%) were related to blockchain,” LongHash found. “That reflects a massive increase in blockchain interest; over a similar five-day prior to Xi’s announcement when 506 total questions were asked, just eight were related to blockchain.”

“Blockchain-related questions were directed at 65 different companies, and 16 of them (24%) were able to answer that they were already involved in the blockchain industry in some way.”

“SZSE’s Easy IR platform had a total of 2,330 questions and answers, of which 792 (34%) were related to blockchain. A total of 326 companies were asked blockchain questions, and of those, 93 (28%) answered that they were already involved in blockchain technology.”

What was even more interesting in these findings is that the companies that were asked about blockchain projects, but did not have any, all said they were willing to explore the technology given the change in attitude. 

Darryn Pollock
Darryn has been interested in the blockchain and cryptocurrency space since he heard about Bitcoin in 2015. He then decided to use his journalism degree to report on this fascinating fintech space in 2016, and has not looked back since.

The Fed Outlines its Issues with Stablecoins: Points Towards Libra Concerns

Previous article

Community Market Update: XDB / DigitalBits

Next article

Comments

Leave a reply

You may also like

More in News