It’s official, the technology Blockchain has beaten one of the greatest authorities on the planet. The decentralized nature of what has become a true lever of crypto-currencies has been tested. The Bitcoin and other digital currencies and live another day.
Last month, China has forbidden the chinese companies to exchange crypto-currencies and to raise funds through the ICO. The price of Bitcoin and the ether have fallen. The start-ups of crypto-currencies are developed. They have proven that the digital currency is decentralized and autonomous. If it is prohibited in some countries, it is necessary to go in another. Currently, they are making a comeback.
The value of Bitcoin hit a historic peak
The repression of the chinese government could stop the development of a few start-ups, but it was just a temporary crisis. According to Ken Sangha, director of the Open Money and Open Project in San Francisco, crypto-currencies have been tested.
He explained that if China did not authorise the exchange of crypto-currencies, it is quite possible to test them in other countries around the world. In effect, each government has its opinion on the virtual currency.
A change of strategy to grow in the sector
Sangha is going to launch in September a ICO for Open Money, a technology that enables application developers to include functionality to buy their products with crypto-currencies. The prohibition the chinese have put on their ICO in waiting. Most of their investors were chinese. Companies based in San Francisco have had the same problems.
SIE Japan Studio, Wikimedia Commons
The company’s exchanges of crypto-currencies based in Shanghai, C2CX, had to temporarily abandon his project. The CEO of C2CX, Scott Freeman, said that China is the main source of investment in the crypto-currency, and that the prohibitions simply mean that capital will go into other projects.
Source : Forbes