Tron Price Up 25% as China Reportedly ‘Bans’ Anti-Blockchain Sentiment
Even Bitcoin is getting an endorsement in an official app in China as local media claims platforms are removing anti-blockchain content.
China is rapidly adopting a pro-blockchain stance following news it would bring in a so-called “crypto law” in January next year.
China: Blockchain must be legitimate
In a sign of China’s abrupt official about-turn on blockchain, officials are deleting posts that claim the technology is a scam, Twitter-based crypto news resource cnLedger reported on Oct. 28.
Chinese officials and president Xi Jinping caused a stir late last week after the latter gave a speech condoning blockchain. China, he said, would become the world’s foremost proponent of the technology and would seek to implement it throughout the economy.
According to cnLedger, in line with previous reactions to official policy, major social media platforms are already censoring anti-blockchain sentiment.
“Articles saying blockchain technology is a scam are now BANNED,” it stated.
The move is somewhat ironic, cnLedger noting that in the past, it was content related to blockchain and cryptocurrency which administrators would seek to remove.
Similarly, it was blockchain platform Tron (TRX), formerly under intense scrutiny from Beijing, which benefited from the past week’s developments. In the past 24 hours alone, TRX/USD has gained almost 25%.
CEO Justin Sun had announced a major, as yet unknown, partnership with what he called a “mega corporation” on the same day as Xi’s speech.
No. 1 App Store app educates on Bitcoin
In a further development, cnLedger added that Xuexi Qiangguo, China’s most downloaded app on Apple’s App Store, will feature educational content on Bitcoin (BTC) and Ether (ETH).
While the exact nature of its content remains unclear, it forms part of a recommended course “focusing entirely on blockchain.”
CPS News, a media service run by Xi’s Communist Party of China, has also released a tool helping party members familiarize themselves with the technology.
As Cointelegraph reported, China recently unveiled various use cases for blockchain, including cross-border finance.
If you have other interesting news about this topic or other cryptocurrency news please let us know. Don’t forget to view our useful bitcoin videos collection to learn more about Bitcoin and Blockchain. Investing in Cryptocurrencies can be very profitable but always make sure you’re keeping your coins safe. You can use the tutorial that will teach you how to make a bitcoin paper wallet that’s the simplest way to keep your Bitcoins but the safest way is by using a hardware wallet.
You’re invited to share your opinion about this news “Tron Price Up 25% as China Reportedly ‘Bans’ Anti-Blockchain Sentiment” by adding your comment bellow. Let’s keep this discussion civilized with a non-offensive language.