Fan Bao, CEO of China Renaissance, sees the blockchain as the future

The director of a Chinese investment bank says he believes that the underlying bitcoin technology is more important than the cryptocurrency itself. We are always waiting for the adoption by big companies of the blockchain … Are we taking the right steps?

Fan Bao, CEO of China Renaissance, reaffirms the market for cryptocurrencies with his statements to CNBC that while the bitcoin market may be bullish, he believes that the underlying blockchain technology is more attractive and “Probably the most disruptive technology … in the financial services industry. “

“I firmly believe in Blockchain in terms of its broader application in our industry,” he said in that interview.

His comments came after Bitcoin reached a record high of more than $ 6,100 last week, followed by a slight decline of $ 5,669 at the time of writing this note. Invaded by news from Bitcoin Gold and other Fork. But even if there are Fork or other currencies, watching as the financial world slowly accepts the Blockchain makes us think of being right in the middle of a change.

For example, CoinDesk, Russia’s National Securities Depository (NSD) has just issued the first $ 10 million live bonus through Smart Contract and open source chain Hyperledger Fabric. On the other hand, the Hong Kong Stock Exchange is also on the way to launch a private market for smaller firms interested in developing blockchain applications to explore more use cases.

Elsewhere in the interview, Bao also generally emphasized that the Chinese government has adopted a liberal approach to innovations with its open market policy. Showing itself an open enthusiast of Blocks chain technology.

Another great news for the ecosystem was passed on Oct. 14, Peng Yijie, a powerful Chinese businessman, visited Chen Gang, Xiong’an New Area Communist Party secretary and deputy governor of Hebei Province.

Peng reported on the potential of Blockchain technology for Secretary Chen, trying to persuade him to cooperate to promote innovation with Blockchain in Xiong’an New Area.

Apparently, it is from Asia from where we get the best news for our community.

Daniela Caro

Daniela Caro

Writer by birth, curious by profession ... I learn a little more every day from the cryptocurrency.