The Chinese economy and its links to the emergence and growth of Cryptocurrencies

in #china5 years ago

As of this moment, China’s population is nearing 1.5 billion people, a number equivalent to less than 1/5 of the world’s inhabitants. This statistic makes the state the leader country in terms of population and highlights its dominance as a major player related to global growth and development. Consequently to such a phenomenon, the Chinese economy has experienced a monumental boom since 1980s which keeps on taking its toll today. Marking its spot as the 2nd largest producer and world’s top exporter, the national production rates currently stand at about 13 trillion in terms of GDP. Everything from books, tech and textile to automobiles, music get manufactured in China nowadays and it keeps on becoming an increasingly more common view. Many of us encounter it all the time whether it’s because we went shopping at the mall or wanted to buy a cheaper phone alternative.

It’s no surprise that this substantial tendency has also been reflected on the cryptocurrency market by rising interest and curiosity while at the same time, creating controversies. The facts, however suggest that the greatest deal of confusion on the Chinese crypto legislation occurred during 2017 when numerous headlines related to the “China Crypto Ban” stroke the news thus causing unclarity about what aspects of the sector are most and least affected. Long story short, the main outcome that entered into force included a legislation that prohibited interactions with official ICOs due to financial risk and potential fraud. Moreover, the implemented law hasn’t yet proven its efficiency fully as a variety of exchanges such as OKex and Huobi keep on serving Chinese crypto customers on a daily basis. Furthermore, over the counter trading has also increased dramatically since the ban therefore proving that traders manage to find ways around it.

It is somewhat important to state that the measure doesn’t really affect the possession of any type of cryptocurrency as the Chinese government recognizes it as a legal form of virtual currency. Nonetheless, this isn’t the case when it comes to the actual utilization of such a currency as its public and private use is prohibited by the law. 

The Orionix vision on this engulfs around the idea of collective global  cooperation and instrumentality in terms of any crypto related  endeavors. Taking this into account, the company has set a goal to try  and reach as many Chinese customers as possible by using a selective of  marketing tools and approaches. Additionally, it may also try to take  certain steps and expand its influence to some of the largest Chinese  online platforms such as Alibaba and Iqiyi. The truth is that everyone  out there who is passionate to participate in an entertaining hobby such  as gaming deserves the right to do so and same goes for crypto traders  and enthusiast. Our goal here is to make this as feasible as possible  and never let our believers down. 

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