The benefits of using automated Forex trading

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The use of a robot or automated system for forex trading are major advantages. It cuts off all human struggles and stress and does what humans cannot do adequately. This newly developed software is computerized and aims to identify trading signals and financial news. The main objective of the program is to identify and trade profitable currency pairs.

Anyone using this trading system can personally define their own criteria. The robot is able to check all predetermined parameters correctly and ensure that the conditions are met before entering into a transaction. When the conditions are met, the robot will buy or sell correctly.

Here are the 3 main benefits of using an automated or automated system:

1. Trade without problems

Unlike human struggle, stress and emotions, the system works perfectly. You do not have to worry about anything when the parameters are defined. It makes its own decision to act without human interference.

2. Substitute for part-time traders

Part-time users of this automated system need not be present to analyze the market before trading. The robot acts in their absence when it is on and it identifies good trading opportunities.

3. 24/7 trading

This automated system is so wonderful that it enables forex trading at any time of the day without human oversight, intervention and others.
There are many automated systems, and users can resolve to choose what they choose, depending on how light, fast and efficient they are. The features of some of these automated systems are:

1. Possibility of external access
2. Virtual confidential employee earning tables hosting
3. Proper immediate monitoring
4. Creating reports.

As mentioned in the introduction, we have seen the benefits or advantages of using automated systems in forex trading. And this is a great opportunity for any trader to invest and reap a great return without fear.

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Trade in GBP / USD with the signaling machine

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If you've ever traded GBP / USD, or are considering trading it, take a look at The Signals Machine. The creation of The Signals Machine, Tal Herman, who instead of trying to chase any currency pair and blow up his account, decided to focus on a pair, GBP / USD.

Why GBP / USD?

Three main reasons why he chose this couple are:

  1. Liquidity – This pair is very easy to get in and out of when you want or need it.
  2. Active – GBP / USD is very active, which means no shortage of trading opportunities, and
  3. Predictable – Because GBP / USD is a big pair, Tal and his team are very skilled at reading where the pair is headed.

These three things make GBP / USD a good choice if you are looking to make a steady profit.

By focusing their energy on three trading strategies:

  1. Extreme Breakout – taking advantage of unstable market periods,
  2. Safe Reversal Point – short to medium term strategy predicts direction based on their specific indicator combination,
  3. Trend correction breakout – Your most consistent strategy. When used properly, you can regularly see thousands of pips. This was the winner of the "2009 Most Profitable Strategy" award for the GBP / USD pair.

How does it work?

First, you get a voice, email and visual alarm along with a one-click trading message. Click "yes" and the signal machine will automatically place a market order or a pending order based on market conditions. Once done, it is also automatically managed based on customizable preset parameters. The strategy that triggered the signal, entry price, profit and stop loss is also shown right on your chart.

How about a major news event that whipped me out of my trade?

The signaling machine has built-in news protection. Depending on the impact on the upcoming news, you will receive a stop trading alert. Now it's up to you to either leave the trade or ride out the news event. If you are not in a trade by the time the news alert arrives, there is no worrying if you will leave.

Currency Strength Meter

The signaling machine also comes with a built-in currency strength meter that analyzes the strength of the GBP / USD pair. If the meter determines that the pair is strong, it will deliver trading signals. Conversely, if it determines that the current movement is weak, no signals are generated. This is a nice addition that I would like to have with other couples as well.

Voice Messaging

The signaling machine also has a built-in voice message system. If you happen to get a cup of coffee or take care of another business, you won't miss your opportunity. Some of these notifications include:

  1. Buy signal – Pretty straight forward
  2. Sell ​​signal
  3. Possible signal of 15 minutes, waiting for the line to close, and
  4. Scanning for trades

As well as other notifications depending on market conditions.

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Crypto TREND 2017-01

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Everyone has heard how Bitcoin and other cryptocurrencies have made millionaires of those who bought as recently as a year ago. Not only are gains of 1,000% or more possible, they have been commonplace with many of these cryptocurrencies. A person who bought Bitcoin in May 2016 for less than $ 500 would have had a gain of 1,400% in about 17 months. Over the past few days, we saw Bitcoin lose nearly $ 1,000, so to say that these cryptocurrencies are unstable would be a massive understatement.

Since the start of Bitcoin in 2008, we at Trend News have been skeptical of cryptocurrency's ability to survive as they pose a very clear threat to governments that want to see and tax all transactions. But while we may still be wary of actual cryptocurrencies, we are keenly aware of the potential of the underlying technology that drives these electronic currencies. In fact, we believe that this technology will be a significant disruption in how data is managed and that it will affect all sectors of the global economy, just like how the Internet affected media.

Here are some questions and answers to get you started …

Question: What are cryptocurrencies?

The best known cryptocurrency (CC) is BITCOIN. It was the first CC to launch in 2008. Today there are more than 800 CC's, including Ethereum, Litecoin, Dash, Zcash, Ripple, Monero, and they are all "virtual". There are no "physical" coins or currencies.

Q: How do CC's work?

CC's are virtual currencies found in very large distributed databases. These databases use BLOCKCHAIN ​​technology. As each Blockchain database is widely distributed, it is believed to be immune to hacking as there is no central attack point and every transaction is visible to everyone on the network. Each CC has a group of administrators, often called "miners," who validate transactions. A CC called Ethereum uses "smart contracts" to validate transactions. Crypto TREND will provide more details in upcoming news publications.

Q: What is BLOCKCHAIN?

Blockchain is the technology that supports all CC's. Each transaction to buy, sell or exchange CC & # 39; is included in a BLOCK that is added to the chain. This technology is complex and will not be explained here, but it has the potential to revolutionize the financial services sector as transactions can be performed quickly and easily, reducing or removing fees. The technology is also being investigated for applications in many other industries.

Question: Are CC exchanges regulated by the government?

For the most part, the answer is NO, which for some users is a major attraction in this market. It is the "wild west" right now, but governments in most developed countries are examining this market to decide what regulation may be needed. A major decision is whether CC should be treated as a currency or a commodity / security. Canada and the United States have so far declared CC & # 39; s legal, but the situation remains fluid as for reporting and fiscal consequences. Crypto TREND will follow and report on this development.

Question: How do I invest in this market?

You can buy, sell and exchange CC's using the services of specialized "exchanges" that act as a broker. You start by selecting an Exchange, creating an account and transferring fiat currency to your account. You can then place your Buy and Sell CC orders. There are many exchanges all over the world. Opening an account is relatively simple, and these exchanges all have their own rules on initial financing and disbursements.

Crypto TREND will in future recommend CC exchanges.

Q: Where do I keep my CC?

To have the freedom to move your cryptocurrencies and to pay bills, you need a digital wallet. These wallets are available in several formats, such as desktop, cloud-based, hardware (USB), mobile phone and paper. Many of them are FREE, however security is a big factor as no one will ever lose their wallet or get it stolen. Crypto TREND will in future recommend digital wallets.

Question: What can I do with my CC?

In addition to investing in CC products, you can also use cryptocurrency for some financial transactions, such as remittances and payment of bills. The list of companies that accept cryptocurrency is growing rapidly and includes major furniture such as Microsoft, GAP, JC Penny, Expedia, Shopify, Bloomberg.com, Dish Network, Zynga, Subway and WordPress.

Q: What's next?

As we start, we will keep each of the Crypto TREND articles short and keep the scope of each one as narrow as possible. As we mentioned earlier, we believe that cryptocurrency technology will be a game changer, and potential investment opportunities like this will pass once or twice in a lifetime. Make no mistake, early investment in this sector is only for your most speculative capital, money that you can afford to lose.

Even if you do not want to invest at this point, getting an early understanding of this new disruptive technology will put you in an advantageous position to take advantage of our recommendations as we move forward.

Expect to see more news and specific recommendations from Crypto TREND as we embark on this journey into what may seem like a foreign jungle at first. This is an unstable market and may not appeal to all investors, however, Crypto TREND will be your guide if and when you are ready.

Stick around!

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Bitcoin mining – a phenomenon that involves a little more than the number of cracks

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The charismatic cryptocurrency and the many thoughts that grow up in the minds of the spectators often surround few obvious questions – what is it going to be like and what about its circulation? However, the answer is straightforward. Bitcoins must be mined to make the cryptocurrency exist in the Bitcoin market. The mysterious creator of Bitcoin, Satoshi Nakamoto, envisioned a technique to exchange the valuable cryptocurrencies online by removing the need for any centralized institution. For Bitcoins, there is an alternative way to keep the necessary records of the transaction history for the entire circulation, and all this is managed in a decentralized way.

The ledger that facilitates the process is called "blockchain". The essence of this ledger may require tons of newsprint to appear regularly on all popular Bitcoin news. Blockchain expands every minute found on the machines involved in the huge Bitcoin network. People can question the validity, yes, the authenticity of these transactions and their recordings in Blockchain. However, this too is justified through the process of Bitcoin mining. Mining enables the creation of new Bitcoin and compilation of transactions for the ledger. Mining essentially involves solving complex mathematical computations, and miners use tremendous computing power to solve it. The individual or & # 39; the pool & # 39; who solves the puzzle places the subsequent block and wins a reward as well. And how can mining avoid double spending? Almost every 10 minutes, outstanding transactions are extracted in a block. So any discrepancy or illegitimacy is completely excluded.

For Bitcoin, mining is not spoken of in a traditional sense of the term. Bitcoins are extracted using cryptography. A hash function called "double SHA-256" is used. But how hard is it to mine Bitcoins? This may be another query. This depends a lot on the effort and computing power used for mining. Another factor worth mentioning is the software protocol. For each 2016 block, the difficulty of extracting Bitcoins by itself is adjusted simply to maintain the protocol. In turn, the pace of block generation is kept constant. A Bitcoin difficulty chart is a perfect measure to demonstrate the mining difficulty over time. The difficulty adjusts itself to go up or down in a directly proportional way depending on the computing power, whether it is fuel or taken out. As the number of miners increases, the percentage of profits earned by participants decreases, all ending up with smaller slices of profits.

Having individual economies and communities is called cryptocurrencies such as Dogecoin, Namecoin or Peercoin Altcoins. These are alternatives to Bitcoin. Much like Bitcoins, these & # 39; cousins ​​& # 39; a huge fan following and aficionados who are eager to take a deep plunge into the vast ocean and begin to mine it. Algorithms used for Altcoin mining are either SHA-256 or Scrypt. There are also several other innovative algorithms. Ease of use, affordability and simplicity can make it possible to mine Altcoins on a PC or by using special mining software. Altcoins are a little & # 39; down to earth & # 39; compared to Bitcoins, but turning them into big bucks is a bit tricky. Cryptocurrency buffs can only hope if some of them could witness the corresponding astronomical fame!

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2018 is the year of Masternodes cryptocurrencies

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Digital currencies like Bitcoin and Ethereum are in the news headlines every day. The features that make these cryptocurrencies unique are their abilities to operate as a store of value and lightning fast transfer rates, or at least with the introduction of the lightning network to Bitcoin, and Ethereum & # 39; Casper is switching to pos and its smart contract options allow cryptocurrencies to be more than just money. Now Masternodes coins are all the rage because of the extra incentive it gives to owning a percentage of a particular currency.

If you could imagine that your good old blue bill hundred dollar bill was on steroids, you would be close to imagining a masternodes coin. In the world of cryptocurrencies, proof of effort is the method of confirming transactional hashes that maintain consensus and keep all notes on the same page, so there may not be duplicate spending on certain transactions, and all is well with network consensus. Putting your coins is a way to leverage the amount of currency you own and sync your digital wallet with the network to help maintain it, and in return you get an incentive to help validate the transactions. To run a Masternodes, you must have a certain number of coins running on a network and follow Masternode's set-up instructions for which currency you plan to invest in. The extra incentive is more than just setting up your coins, sometimes upwards at 1500 percent annually. It is these astronomical returns on investment that really bring lots of attention and investment into the Masternodes market.

One crypto plan to release a Masternodes coin in early 2019 is the Tattoo Allince Token, which should be a side chain on the Egem blockchain, which is disrupting the tattoo industry by creating a tokenized reward system for both people wanting to buy tattoos , and the artists who look forward to using the artworks in return for the symbol. I think this will be a great and refreshing idea and a great way to add long-term benefits to tattoo artists who have so far no 401k or incentive program in place. I am optimistic about this crypto as it strives to gain great benefits and add value to a cash heavy industry. I believe that alongside the Masternodes capabilities, it will also have effort and a smart contract protocol as well as offer decentralized autonomous management and a membership rewards program. Look for more on the TAT Masternodes token coming early next year.

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Crypto Currency volatility, a profitable roller coaster

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This year, we can see that cryptocurrencies tend to move up and down, even with 15% of value on a daily basis. Such price changes are known as volatility. But what if … this is perfectly normal and sudden changes are one of the characteristics of cryptocurrencies so you can make a good profit?

First of all, cryptocurrencies came to the mainstream recently, which is why all the news about them and rumors are "hot". After each statement by officials about possibly regulating or banning the cryptocurrency market, we observe huge price movements.

Second, the nature of cryptocurrency currencies is more like a "value proposition" (as gold had been in the past) – many investors consider these as backup investment opportunities for stocks, physical assets such as gold and fiat (traditional) currencies. The transfer rate has an impact on crypto volatility as well. With the fastest, the transfer takes just a few seconds (up to a minute), making them an excellent asset for short-term trading if there is currently no good trend for other types of assets.

What everyone should keep in mind – this rate also applies to the lifetime trends of cryptocurrencies. While in regular markets, trends can last months or even years – here it takes place within just days or hours.

This leads us to the next point – even though we are talking about a market worth hundreds of billions of US dollars, it is still very small in comparison to the daily trading volume compared to traditional foreign exchange markets or stocks. Therefore, a single investor making 100 million transactions in the stock market will not cause major price changes, but on a scale of the cryptocurrency market this is a significant and noticeable transaction.

As cryptocurrencies are digital assets, they are subject to technical and software updates of cryptocurrency features or extended blockchain collaboration, making it more attractive to potential investors (such as activating SegWit basically doubling the value of Bitcoin).

These elements together are the reasons why we observe such large price changes in the price of cryptocurrencies within a few hours, days, weeks, etc.

But answering the question from the first paragraph – one of the classic rules of trading is to buy cheap, sell high – therefore have short but strong trends every day (instead of way weaker goods that last weeks or months like stocks) gives much more chances of making a decent profit if used properly.

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Crypto TREND – Second Edition

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In the first issue of CRYPTO TREND, we introduced Crypto Currency (CC) and answered several questions about this new marketplace. There are many NEWS in this market every day. Here are some highlights that give us a glimpse of how new and exciting this market space is:

The world's largest futures exchange to create a Bitcoin futures contract

Terry Duffy, president of the Chicago Mercantile Exchange (CME) said "I think sometime in the second week of December you will see our (bitcoin futures) contract for listing. Today you cannot short bitcoin so there is only one way it can go. You either buy it or sell it to somebody else. So you create a two-sided market, I think it's always much more efficient. "

CME intends to launch Bitcoin futures by the end of the year pending regulatory review. If successful, this will give investors a viable way to go "long" or "short" on Bitcoin. Some stock exchange-traded funds have also applied for bitcoin ETFs that track bitcoin futures.

This development has the potential to allow people to invest in the cryptocurrency area without owning CC & # 39; s directly or using the services of a CC exchange. Bitcoin futures can make the digital asset more useful by letting users and intermediaries hedge their currency risks. It may increase cryptocurrency & # 39; s adoption by traders who want to accept bitcoin payments but are wary of its unstable value. Institutional investors are also used to trading regulated futures, which are not plagued by money laundering concerns.

CME & # 39; s move also suggests bitcoin has become too big to ignore as the stock exchange appeared to rule out crypto futures in the recent past. Bitcoin is just about anything anyone talks about at brokers and trading companies, which have suffered from rising but exceptionally quiet markets. If futures on a stock exchange started, it would be nearly impossible for any other stock exchange, such as CME, to catch up, as scale and liquidity are important in derivatives markets.

"You can't ignore the fact that this is becoming more and more of a story that won't disappear," Duffy said in an interview with CNBC. There are "mainstream businesses" that want access to bitcoin and there is "huge accumulated demand" from clients, he said. Duffy also believes it would make bitcoin less unstable to bring institutional traders to market.

Japanese village to use cryptocurrency to raise capital for municipal revitalization

The Japanese village of Nishiawakura is exploring the idea of ​​holding an initial coin offering (ICO) to raise capital for communal revival. This is a very new approach and they may ask for support from the national government or seek private investment. Several ICOs have had serious problems, and many investors are skeptical that any new token will have value, especially if the ICO proves to be another joke or scam. Bitcoin was certainly no joke.

ORIGINAL MINING OFFER – (ICO)

We did not mention the ICO in the first edition of Crypto Trend, so let's mention it now. Unlike an Initial Public Offering (IPO), where a company has an actual product or service for sale and wants you to buy shares in their business, an ICO can be held by anyone looking to launch a new Blockchain project aimed at creating a new symbol on their chain. ICOs are unregulated and several have been totally tight. However, a legitimate ICO can raise a lot of cash to fund a new Blockchain project and network. It is typical for an ICO to generate a high token price near the start and then sink back into reality soon after. Because an ICO is relatively easy to keep, if you know the technology and have a few dollars, there have been many, and today we have about 800 tokens in play. All of these tokens have a name, they are all cryptocurrency, and with the exception of the very well known tokens, such as Bitcoin, Ethereum and Litecoin, they are called alt-coins. At this time, Crypto Trend does not recommend joining an ICO as the risks are extremely high.

As we said in issue 1, this market is the "wild west" right now, and we recommend caution. Some investors and early adopters have made big profits in this market; however, many have lost a lot, or all. Governments are considering rules as they want to know about every transaction to tax them all. They all have huge debts and are tied to cash.

So far, the cryptocurrency market has avoided many government and conventional banking financial problems and pitfalls, and Blockchain technology has the potential to solve many more problems.

A good feature of Bitcoin is that the creators chose a limited number of coins that can ever be generated – 21 million – thus ensuring that this crypto coin can never be inflated. Governments can print as much money (fiat currency) as they want and blow their currency to death.

Future articles will delve into specific recommendations, but make no mistake. Early investment in this sector will only be to your most speculative capital, money that you can afford to lose.

CRYPTO TREND will be your guide if and when you are ready to invest in this market.

Stick around!

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Fap Turbo Review – Can Robots Trade?

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I've been trading forex since 2004 and if there's one thing I've figured out, it's that technical analysis is a bad advisor. While it serves to spot trends, foundations play the biggest role. That is, if, for example, all your indicators say that there is a bullish trend, a single decision by the Fed can turn it around in an instant. Therefore, you need to follow the news closely and have an idea of ​​what this news means.

While you can learn it, can a robot learn? Seeing a robot news and understand what the Fed is talking about? Unless it's some kind of super advanced Android-type AI machine, it doesn't. Nor do automated forex trading systems, such as forex robots, like Fap Turbo.

That said, our technologies are advanced enough and the use of neural networks brings the forex robots to a whole new level, these systems cost a lot of money. Can a system costing a few hundred compete? No, not likely.

You will read great stories on the Fap Turbo website about crazy ROI, which is 100% per day. Month (which means you actually double your investment). However, it is an optimistic call at its best. That's not to say you can't make money.

Traders are lazy people, they wouldn't be merchants if they weren't. That’s why some of them invest big money to create systems like Fap Turbo to do all that work for them. Some succeed, others do not.

I have to admit that I'm pretty impressed with the Fap Turbo. Not only because it sells 1000 copies per Today, but also because it is exceptional performance. It is the best functioning system I have ever had my hands on. Most of them barely break even.

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What You Need to Know About an Online Forex Trading Broker System

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While the primary function of an online forex brokerage system is to provide a trading platform from which the trader can get accurate real-time deals and make fast, reliable trades, some provide a number of other services that are drawn to potential customers.

For example, some of these sites may even provide forex trading courses for people new to currency speculation. Others even offer automated trading services to people who want to invest in forex but do not have the inclination, time or want to manage their own forex account.

Even if you are not looking for an online forex trading broker system with all the bells and whistles, most charts and news affecting the foreign exchange markets, in addition to free "demo" accounts that allow unseasoned forex traders to trade real money in real time, so they can get a sense of how things work.

Forex trading training is even more important than it is for other types of speculation and investment like stocks and options, because forex is a more sophisticated "game".

This is because many things can affect the value of currencies, which is why you need to find an online forex trading broker that provides training and analysis, and roll news that alerts you to relevant news, which is important to know if you are a currency trader. Eg. Should Federal Reserve interest rate decisions not be hunted for other resources.

Even if you have gone through quality management training, smart dealers subscribe to newsletters written by professional currency traders offering both basic and technical analysis in the markets. The best of these newsletters will even alert you to setups for specific trades and are packed with ideas to make money.

Remember that in the end, if you are just getting started in currencies, forex training is essential because leverage is so high in this game; fortunes can really be created or lost in days, hours and even minutes.

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Prepare for a Cryptocurrency World: China Edition

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Over the past year, the cryptocurrency market has taken a series of heavy blows from the Chinese government. The market took hits as a warrior, but the combinations have taken its toll on many cryptocurrency investors. The market's smooth performance in 2018 bleached in comparison to its outstanding thousand-percent gains in 2017.

What has happened?

Since 2013, the Chinese government has taken measures to regulate cryptocurrency, but nothing compared to what was enforced in 2017. (Check out this article for a detailed analysis of the official announcement by the Chinese government)

2017 was a banner year for the cryptocurrency market with all the attention and growth it has gained. The extreme price volatility forced the central bank to adopt more extreme measures, including the ban on initial coin offerings (ICOs) and shutdowns on domestic cryptocurrency exchanges. Shortly after, mining factories in China were forced to close, citing excessive electricity consumption. Many exchanges and factories have moved overseas to avoid regulations, but remained accessible to Chinese investors. Nevertheless, they still fail to escape the claws of the Chinese dragon.

In the latest series of government-led efforts to monitor and prohibit cryptocurrency trading among Chinese investors, China expanded its "Eagle Eye" to oversee foreign cryptocurrency exchanges. Companies and bank accounts suspected of having made transactions with foreign crypto exchanges and related activities are subject to measures from limiting withdrawal limits to freezing accounts. There have even been ongoing rumors among Chinese society about more extreme measures to be enforced on foreign platforms that allow trade between Chinese investors.

"As for whether there will be additional regulatory measures, we will have to wait for orders from the higher authorities." Excerpt from an interview with the team leader of China's Public Information Network Security Supervisory Agency under the Ministry of Public Security, February 28

WHY WHY WHY !?

Imagine your child investing his or her savings to invest in a digital product (in this case, cryptocurrency) that he or she has no way to verify its authenticity and value. He or she could be lucky and hit it rich or lose it all when cryptobubble burst. Now scale it to millions of Chinese citizens and we are talking about billions of Chinese yuan.

The market is full of scams and meaningless ICOs. (I'm sure you've heard news of people sending coins to random addresses with the promise of doubling their investments and ICOs that simply don't make sense). Many unconscious investors are in it for the money and will be less interested in the technology and innovation behind it. The value of many cryptocurrencies is derived from market speculation. During the 2017 crypto boom, join any ICO with either a famous on-board advisor, a promising team, or a decent hype, and you are guaranteed at least 3X your investments.

Lack of understanding of the company and the technology behind it, combined with the proliferation of ICOs, is a recipe for disaster. Central Bank members report that nearly 90% of ICOs are fraudulent or involve illegal fundraising. In my opinion, the Chinese government wants to ensure that the cryptocurrency remains & # 39; controllable & # 39; and not too big to fail in Chinese society. China is taking the right steps towards a safer, more regulated cryptocurrency world, albeit aggressive and controversial. In fact, it is perhaps the best move the country has taken in decades.

Will China issue an ultimatum and make cryptocurrency illegal? I highly doubt it, as it is pretty pointless to do so. Currently, it is forbidden for financial institutions to hold crypto assets while individuals are allowed, but it is barred from conducting any kind of trading.

A state-run Cryptocurrency Exchange?

At the annual "Two Sessions" (named because two major parties – the National People's Congress (NPC) and the National Committee of the Chinese People's Political Consultative Conference (CPCC) both attend the forumï¼ ‰ held the first week By March, leaders will gather to discuss the latest issues and make the necessary law changes.

Wang Pengjie, a member of the NPCC, disappeared with the prospect of a state-controlled digital asset trading platform as well as launching blockchain and cryptocurrency education projects in China. However, the proposed platform requires an approved account to allow trading.

"With the creation of related rules and the cooperation between the People's Bank of China (PBoC) and the China Securities Regulatory Commission (CSRC), a regulated and effective cryptocurrency exchange platform would serve as a formal way for businesses to raise money (through ICOs and investors to keep their digital assets and capital appreciation ”Excerpt from the presentation by Wang Pengjie at the two sessions.

Marching against a Blockchain Nation

Governments and central banks all over the world have struggled to fight the rising popularity of cryptocurrencies; But one thing is certain, everyone has embraced the blockchain.

Despite the crash of cryptocurrency, blockchain has gained popularity and adoption at various levels. The Chinese government has supported blockchain initiatives and embraced the technology. In fact, People's Bank of China (PBoC) has been working on a digital currency and has conducted spot transactions with some of the country's commercial banks. It is still not confirmed whether the digital currency will be decentralized and offer features of cryptocurrency such as anonymity and immutability. It wouldn't come as a surprise if it turns out to be a digital Chinese yuan, since anonymity is the last thing China wants in their country. Created as a close substitute for the Chinese Yuan, however, the digital currency will be subject to existing monetary policies and laws.

People's Bank of China Governor Zhou Xiaochuan. Source: CNBC

"Lots of cryptocurrencies have seen explosive growth that can have a significant negative impact on consumers and retail investors. We don't like (cryptocurrency) products that use the huge opportunity for speculation that gives people the illusion of getting rich overnight" Excerpt from Zhou Xiaochuan interview on Friday, March 9.

In a media release on Friday, March 9, Governor of People's Bank of China Zhou Xiaochuan criticized cryptocurrency projects that leveraged the crypto boom for cash and fuel market speculation. He also noted that digital currency development is & # 39; technologically unavoidable & # 39;

At the regional level, many Chinese cities are running blockchain initiatives to promote growth in their region. Hangzhou, known to be the headquarters of Alibaba, has declared blockchain technology to be one of the city's top priorities in 2018. The local government in Chengdu city has also been proposed to build an incubation center to promote blockchain adoption technology in the city's financial services.

Local conglomerates such as Tencent and Alibaba have also formed partnerships with blockchain companies or launched projects on their own. Blockchain companies like VeChain have also secured several partnerships with Chinese companies to improve supply chain transparency in China.

All clues point to the fact that China is working towards a blockchain nation. China has always had an open mentality for new technologies such as mobile payment and artificial intelligence. Going forward, it is without a doubt that China will be the first blockchain-enabled country. Do we want to see the Chinese government back up and allow its citizens to act again? Probably when the market has matured and is less volatile, but certainly not in 2018.

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