Skip to main content

CHINESE MARKETING MOGUL APPOINTS PRO-BLOCKCHAIN EXECUTIVE



A leading Chinese marketing and management behemoth, ChinaNet, has announced that vibrant and pro-blockchain Mr. Yingguo Guo is now the new Chief Technology Official (CTO) of the company, according to a press release today.

ChinaNet Hires Pro-Blockchain Executive
ChinaNet is a NASDAQ-listed company (Nasdaq-CNET). According to the company’s website, ChinaNet is “integrated online advertising, precision marketing, and data analysis and management services platform” that is focused on providing comprehensive data analysis for its clients to help improve their business outcomes as well as create efficient enterprises.
In the announcement, the company said that Yingguo will use his leadership capabilities and wealth of experience in technological innovation to help ChinaNet to expand its interest in the development of blockchain technology.
Speaking about the new development, Mr. Handong Cheng, Chairman, President, and CEO of the company, shared his gratitude for having such a talent in his executive team. “We are excited about the addition of such high-caliber talent to ChinaNet,” he said, adding that “with over ten years of experience in the technology industry, Yingguo’s proven track record in developing strategies and optimizing systems for internet platforms will help drive our growth and streamline our expansion efforts going forward.”
Yingguo has founded two technology companies. One of them – Twinkle Entertainment Technology Co., Ltd. (“Twinkle”) – is an electronic ticketing platform based on the blockchain technology. He has also worked as an executive in different technology companies in several countries, including the famous Chinese multinational conglomerate, Tencent.

The Rise of Blockchain in China

China may soon become a global blockchain hub as the country continuously fuels its interest in blockchain technology. In October, President Xi Jinping declared his support for the technology, encouraging the nation to increase its investment in the blockchain sector. According to President Xi, “Blockchain should be made an essential way and main direction to drive China-led technology innovation.”

Following Xi’s official endorsement of the blockchain, reports revealed that the country is set to inject as much as $2 billion into its blockchain sector by 2023. Notably, another report emerged that South China’s Province, Hainan doled out 1 billion yuan ($143M) to startups to promote the development of the blockchain industry in the region.
Aside from its plans to increase the country’s investment in blockchain, China is on the verge of releasing a central bank digital currency.

Pro-Blockchain, But Anti-Cryptocurrencies



Despite China’s growing interest in blockchain, the country remains uptight about its clampdown on cryptocurrency trading. The Central Bank of China released an updated version of its regulatory framework, clarifying that China’s support for blockchain is not an approval for cryptocurrencies. According to the update, cryptocurrencies are still illegal in the country due to their speculative nature and other risks tied to crypto issuance and trading.

Comments

Post a Comment

Popular posts from this blog

Legendary Rock Star Gene Simmons Buys Cardano (ADA) Worth $300,000

Famous rock star Gene Simmons continues his cryptocurrency adventure, this time investing $300,000 in Cardano (ADA). Gene Simmons, the legendary KISS bassist, has made another dip into cryptocurrencies. The famous musician has expressed his belief in Cardano, presuming 2021 would be “the most productive year” for the altcoin. Believing in the Future of Cardano Rock star Gene Klein, aka Gene Simmons, has appeared in online social media with yet another pro-cryptocurrency commentary. This time KISS’s legendary bass guitarist has expressed his opinion on Cardano and its native digital coin ADA. In his  recent publication  on Twitter, Simmons explained one of his fundamental personal reasons for  investing  and holding the altcoin. The musician pointed out that he believes in Cardano because of Hoskinson (Charles) – Cardano’s creator and co-founder of Ethereum. In his tweet, the musician expressed his trust in the altcoin hopping on Hoskinson’s envision that 2021 would b...
Post a Comment
Read more

Bitcoin Hash Rate Hits All-Time High: Here’s How It Works And How It Affects The Price

Bitcoin intelligence, data, and analytics firm Glassnode found the Bitcoin hash rate hit a new all-time high over the weekend, ten days before the Bitcoin halving event. In other words, miners are putting more computational power into maintaining the Bitcoin network. Because miners must venture electricity and capital intensive computer processors to mine Bitcoin, the increase in hash rate is a bullish sign. It means miners are after the Bitcoin rewards they get from maintaining the network. And they’re venturing the resources to go after those rewards. Is The Bitcoin Hash Rate Correlated With The Price? In general, the Bitcoin price and the hash rate are not correlated. The price is what buyers and sellers agree to pay for one Bitcoin, and there are many factors – external and internal – affecting the price. However, there is a relation between the two. While the price goes up, it’s more profitable to mine, which likely to cause more miners to turn on their mining equ...
Post a Comment
Read more

Tether Continues Printing Spree: Mints 480 Million USDT In First Week Of May

Tether is not slowing down in its USDT printing spree. The amount of tokens the stablecoin issuer has minted within the last week now equals what it printed in the first half of April. Tether Prints 480 Million USDT In 5 Days Records from Whale Alert suggest that the Tether Treasury has printed five batches of fresh tokens in the last five days, totaling 480 million USDT ($480.4 million), which was the same amount with what was minted within the first 14 days of the previous month. In a previous report , Tether created a whopping 1.58 billion USDT (appr. $1.586 billion) in April alone, making it one of the busiest months for the company’s Treasury in terms of minting new tokens. The company printed 220 million USDT ($220.4 million) on Thursday alone, and 100 million USDT ($99.8 million) more today. If the stablecoin’s printer continues producing more tokens at this rate, then we will likely see almost twice as much as the figure in April. At the time of writing, the USD...
Post a Comment
Read more