Chinese investment bank manager stated that the underlying technology of Bitcoin is more important than Bitcoin itself.
China Renaissance CEO In an interview with CNBC, Fan Bao also stated that the bitcoin industry is on the rise, but the underlying blockchain technology is more interesting and is the most disruptive technology in the financial services industry.
“ I have a strong belief in Blockchain technology as it has a wider application in its industry.”
His comments come after Bitcoin hit a record high of $6,100 last week. This record also fell to around $5,500 from time to time.. They are also among a variety of technology-related finance applications, especially around centralized markets.
CoinDesk, according to the report, Russia’s National Security Deposit (NSD) strong> issues live bonds for the first time using smart contracts and the ‘Hyperledger Fabric‘ blockchain. In addition, the Hong Kong Stock Exchange is in an effort to establish a private sector on behalf of small firms that aim to develop blockchain technology to explore new uses.
During the interview, Bao also spoke in China. pointed out that his government is taking a liberal approach towards free market policy.
According to a very recent announcement, the Chinese Central Government has implemented blockchain to establish a credibility system in the country’s supply chain sector. He stated that it is necessary and thus will support the development of this technology.
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