China has been one of the most strict regulators for the blockchain currencies, especially on bitcoin. How ever this is not that negative type of regulating where they are trying to make it hard to use, rather it has been strict in order to keep away illegal activities being funded through our beloved digital currencies. We would like to believe that attention from certain governments is definitely better outlook than no attention at all, at least this way there will be no sudden surprises but instead public knows exactly what is the governments official position on the crypto. Value-token of Ethereum blockchain has surged almost 900% from the start of this year and we are dedicating following piece to take a closer look on how the spread of Ethereum network awareness in China might be starting a new boom.
Peking University Ethereum Laboratory
Bright minds in the educational sector of China have noticed the immense potential that Ethereum blockchain has to offer for our society and countries leading educational institution has taken a step towards launching a special laboratory, designed specifically for the research and development of Ethereum blockchain. With this action we have noticeable increase in interest from the educational sector for the potential of this newest addition to the blockchain family. Peking's Ethereum Lab. will be focusing their effort towards developing protocol improvements and new applications to benefit local and global supply chains administrations and energy markets.
Chinese Royal Mint Digitizing Chinese Yuan
This might turn out to be one of the biggest boosters of the Ethereum blockchain ecology. Chinese Royal Mint, which is in charge of minting and printing local currency, has been forwarding their development teams and resources towards moving Chinese Yuan into digital currency on the blockchain using Ethereum tokens. This type of movement means that there is about to be a lot of new cash to stream in to the economy of the Ethereum blockchain which in result will drive up the value-tokens price.
Ethereum Awareness Spread By Local Blockchain Consortia
Just like in any other part of the world, the main awareness of Ethereum is being spread not through the financial and educational organizations but rather through the local blockchain enthusiasts and researchers. One of the biggest blockchain research institutes in the country, known as Jiangsu Huaxin Blockchain Research Institute (JBI), has over 30 researchers and developers who are working with the public and businesses in the region in order promote Enterprise Ethereum Alliance. Such movement has resulted in a sudden popularity from local developers to shift some of their attention towards creating progressive decentralized applications on the Ethereum blockchain as well. We can see how one of the longest reigning governments in the Asian region is now in the full process in moving their attention span towards this brand new technology. There is immense potential in Ethereum blockchain restoring the natural balance in our current society, by decentralizing services which we rely on every day of the year. Above listed movements from the Chinese financial and educational institutions might result in a new boom for Ethereum and we are eagerly standing by to the see the progress of this decentralized network.