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China is currently one of the leading countries hard at work in developing blockchain technology. With this, cryptocurrencies have seen a rise in popularity in the country, with much of the population trying to invest their hard-earned savings in businesses involved in the crypto market.
The problem is that many of them don’t sufficiently understand cryptocurrencies and blockchain tech, which results in them running into malicious parties. In an attempt to cure this lack of information, China is looking for ways to educate the masses on what exactly this new technology brings and how it operates in the digital space.
The country's most recent approach in this endeavor is its airing of an hour-long discussion centered on blockchain tech. The discussion was aired by the country’s primary state broadcaster, China Central Television (CCTV), Coindesk reported.
Titled “Dialogue,” the segment included prominent figures in the blockchain market who are currently working in the crypto space. Among these figures were Don Tapscott, author of “Blockchain Revolution,” Chen Lei, CEO of the cloud system giant Xunlei, and Zhang Shoucheng, founder of Danhua Capital, a company investing in blockchain development.
Tapscott and Chen started the episode by explaining the fundamentals of blockchain and distributed ledger technology. Zhang went on to say that this innovation is the evolution of the internet, calling it 10 times greater than the world wide web.
"While the real value of the internet is aggregating individual pieces of information into one place, which is exactly what Google and Facebook do, we are now entering an era where information is being decentralized so that individuals can own their individual data,” Zhang said. “And that's the real value of blockchain that makes it exciting."
Of course, the experts didn’t focus only on the advantages but also the dangers that blockchain tech and cryptocurrencies pose. They said that blockchain is a relatively new technology which should be closely watched. Fraudulent coin offerings were also discussed by the speakers, explaining how these illicit actors operate, and how best to spot them.
