China Praises Bitcoin As A “Successful Application of Blockchain Technology”


Xinhua News Agency, a media outfit operated by the government, has published an article on Bitcoin recently. Dubbed “Bitcoin: The First Successful Application of Blockchain Technology,” the article takes a deep look into Bitcoin and how it works. It mentions specific intricacies including mining, the use of both public and private keys, and even some details about Bitcoin’s halving.

A little recently, the government released a list of industries it intends to discontinue and Bitcoin/crypto mining was not on the list. This was news because a similar list which was released a few months ago, included Bitcoin mining, meaning that the government planned a crackdown.

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