日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語(yǔ)Fran?ais
Europe

Ban on coin offerings seen as healthy move

By Ren Xiaojin | China Daily Europe | Updated: 2017-09-15 08:54
Share
Share - WeChat

China's recent ban on initial coin offerings is not expected to deter the commercial use of blockchain technology, analysts say. Rather, they believe the ban to be a necessary step for better regulation of the technology.

Sheng Songcheng, a senior official of the central bank, said during an interview with China Business Network that blockchain is promising and such scrutiny will only push the industry down a healthier path.

"To eliminate the market frenzy once and for all, so that everyone can start again by following the new rule, is a very meaningful strategy," Sheng said. "Cryptocurrency is the best-known practice of blockchain. It is impossible to stop it, but it is time for scrutiny."

China's top regulators, including the central bank, have banned ICO practices, an increasingly popular application of blockchain globally, which has helped Chinese startups raise almost 2.6 billion yuan ($400 million; 334.4 million euros; 301.44 million) in the first half of the year, according to a report by experts on the internet financial security technology.

The crackdown led to a 20 percent fall in the price of Bitcoin from $5,000 to $4,000 three days after the ban, as China has one of the largest numbers of cryptocurrency owners.

A fintech worker, who requested anonymity, says the Beijing-based company he worked for has stopped its ICO project.

"Certain regulation is necessary," he says. "But as ICO has been such an efficient way for tech companies to raise funds, I believe it is more likely to be a short-term ban until they can regulate it efficiently."

According to Huang Zhen, director of the research institution of financial laws in the Central University of Finance and Economics, "ICO could have been a creative tool for startups if used well. Currently, there is an unhealthy frenzy toward ICO which has attracted lots of players without adequate knowledge about blockchain or ICO. Such irrational investment can lead to potential financial risks."

The ban "is to protect the financial technology sector and investors with strong regulations, and stop illegal fund-raising", Huang added. "It will help both startup owners and investors to stay away from irrational investment behavior."

Yu Liang, chief operating officer of Qingsongchou Network Technology Co, one of China's leading blockchain companies, says the commercial application of blockchain is still rare in China and the ban on ICO will not stop the industry from growing, but it will encourage those in the industry to use the tool in a legal way.

"Blockchain has a promising future in the financial sector, from what is happening in the world," Yu says. "Its nature - decentralized, transparent and tamperproof - makes it applicable in a wide range of areas such as charity."

[email protected]

(China Daily European Weekly 09/15/2017 page25)

Today's Top News

Editor's picks

Most Viewed

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 久久久无码精品一区二区三区 | 亚洲欧美国产视频 | 天天干天天天天 | 日韩在线第一 | 国产精品视_精品国产免费 亚洲综合在线另类色区奇米 | 91www成人久久 | 国产精品999在线观看 | 欧美精品一区二区三区在线 | 久草青娱乐 | 国产在视频线精品视频www666 | 久久华人 | 国产日韩欧美中文 | 中国美女撒尿txxxxx视频 | www.夜色.com| 日本欧美不卡一区二区三区在线 | 欧美精品综合一区二区三区 | 啊哈不要啊 | 天天看片网站 | 免费黄网站在线看 | 成人免费大片a毛片 | 又黄又爽免费无遮挡在线观看 | 亚洲精品一区二区三区精华液 | 久久av网 | 久久国产精品视频 | 91 在线 | 蜜桃视频一区二区三区 | 国产成人不卡 | 亚洲免费观看视频 | 欧美手机在线观看 | 午夜刺激视频 | 国产精品国偷自产在线 | 色综合久久综精品 | 欧美性高清视频免费看www | 波多野结衣一区二区 | 国产精品一区二区免费 | 久久久无码精品亚洲日韩按摩 | 国产男女自拍视频 | 国产成人一区二区三区久久久 | 免费小视频 | 成人综合网站 | 国产成人在线一区二区 |