Baba Beijing is going to start using blockchain technology for official business, China Rising Radio Sinoland 20170817

 

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By Jeff J. Brown

Pictured above: China will do blockchain the right way.


 

 

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If you can’t beat them, join them, they say https://www.nextbigfuture.com/2017/08/china-will-use-blockchain-tech-for-tax-collection-and-invoicing.html. While Bitcoin https://bitcoin.org/en/ is officially banned in China, the government has decided to coopt it and other blockchain platforms, like Etherium https://www.ethereum.org, by developing its own national version https://translate.google.com/translate?sl=zh-CN&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.miaocaiwang.com%2F%3Fdo%3Darticle%26id%3D2897&edit-text=.

Global banks are fearful of blockchain, since it can cut them out of financial transactions and allow the buyer and seller to do business directly – no need for bank wires, letters of credit, etc, and all the easy bank profit from fees and charges. With China touting the world’s four biggest banks on the planet  http://www.bankrate.com/finance/banking/largest-banks-in-the-world-1.aspx, all state owned, blockchain would be another quiver in Baba Beijing’s arsenal to combat the West for financial supremacy. Just think, no need for the Bank of International Settlements http://www.bis.org/, SWIFT, no potential Western imperial banking strangulation and sanctions like on Iran, Iraq, Russia, Cuba, DPRK, Venezuela and too many others to count.

Given that China’s entire financial sector is people owned and under one umbrella of financial governance, the Communist Party of China, no other country has the potential to concentrate on and pull off a national blockchain system. It would seamlessly harmonize with the first global long distance, hackproof quantum communication network http://www.chinadaily.com.cn/business/tech/2017-05/31/content_29561952.htm and https://www.scientificamerican.com/article/china-shatters-ldquo-spooky-action-at-a-distance-rdquo-record-preps-for-quantum-internet/, thus completely shutting out CIA-MI6 Spookville, as well as the Rothschilds and Rockefellers. Talk about killing two monsters with one stroke.

This also jives well with China and Russia developing their own interbank settlement system, called CRIFT, thus cutting out the West’s SWIFT system https://www.corbettreport.com/chinas-swift-alternative-and-the-engineered-death-of-the-dollar/. Not to mention, Russian President Vladimir Putin recently met with Etherium founder, Vitalik Buterin, likely looking for ways to insulate Russia from Western financial war http://www.zerohedge.com/news/2017-06-12/putin-meets-ethereum-founder-create-national-virtual-currency.

Analysts Rory Hall, from The Daily Coin http://thedailycoin.org/ and Jeff J. Brown recently discussed many of these aspects in a recent interview https://www.youtube.com/watch?time_continue=218&v=tVX2bOGEmGo.
 

Why and How China works: With a Mirror to Our Own History


ABOUT JEFF BROWN

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JEFF J. BROWN, Editor, China Rising, and Senior Editor & China Correspondent, Dispatch from Beijing, The Greanville Post

Jeff J. Brown is a geopolitical analyst, journalist, lecturer and the author of The China Trilogy. It consists of 44 Days Backpacking in China – The Middle Kingdom in the 21st Century, with the United States, Europe and the Fate of the World in Its Looking Glass (2013); Punto Press released China Rising – Capitalist Roads, Socialist Destinations (2016); and for Badak Merah, Jeff authored China Is Communist, Dammit! – Dawn of the Red Dynasty (2017). As well, he published a textbook, Doctor WriteRead’s Treasure Trove to Great English (2015). Jeff is a Senior Editor & China Correspondent for The Greanville Post, where he keeps a column, Dispatch from Beijing and is a Global Opinion Leader at 21st Century. He also writes a column for The Saker, called the Moscow-Beijing Express. Jeff writes, interviews and podcasts on his own program, China Rising Radio Sinoland, which is also available on YouTube, Stitcher Radio, iTunes, Ivoox and RUvid. Guests have included Ramsey Clark, James Bradley, Moti Nissani, Godfree Roberts, Hiroyuki Hamada, The Saker and many others. [/su_spoiler]

Jeff can be reached at China Rising, jeff@brownlanglois.com, Facebook, Twitter, Wechat (Jeff_Brown-44_Days) and Whatsapp: +86-13823544196.

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