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| 1. | | parent_author | "" |
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| parent_permlink | cryptocurrency |
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| author | koozi.bear |
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| permlink | the-great-blockchain-of-china |
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| title | "The Great Blockchain of China" |
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| body | "<h3>**Bigger than the Great Wall. You heard it first from @TheBannedBear.**</h3>
<center>_**DISCLAIMER:**
This is pure speculation based off of
what we have connected so far._</center>
<center>_DYOR, and make your own judgement._</center>
As we all know, China bans cryptocurrency every other week. This has been a major FUD topic for years now. News outlets have been having a field day blasting articles out surrounding ICOs bans, exchange bans, and it seems like all we ever read about is how China does not want its citizens to trade or even talk about cryptocurrency.
Let’s think about this from a different perspective…
Does China really want to prevent their citizens from owning cryptocurrency, or are they just trying to prevent their citizens from owning non-Chinese cryptocurrency right now? Why would they be doing that? Koozi Bear thinks it’s because China is creating their own government-issued cryptocurrency, **which could also be a part of a much larger project.**
Koozi has been building this theory for awhile now, and this news story posted a few days ago (3/9/18) now adds significance to the theory:
https://www.bitsonline.com/china-digital-currency-dcep/
**What are the benefits of a government-issued cryptocurrency?**
**Here are a few (there are dozens more):**
- One unified network
- Prevents fraud and illegal spending
- Prevents money from leaving the country
- Tracks essentially everything (massive surveillance)
- Allows for the establishment of a new credit system for every citizen, both financial AND social. This would also apply to businesses.
**This would not only change China...it would have a huge effect on the world.**
**New Social Credit System, what do you mean? This can help explain: https://en.wikipedia.org/wiki/Social_Credit_System**
If you read the first link posted above, you will see that The People’s Bank of China made the announcement about a potential government cryptocurrency named “DCEP”. If you read the second link, you will see that The People’s Bank of China is also involved in establishing this Social Credit System.
What is going on here? After speaking with a Chinese colleague who lives in Shanghai, his take was that credit rating systems like from Ant Financial (Sesame), Tencent, and JD are currently the only major “ratings systems” in the public eye as of now.
If China is indeed working on a “Great Blockchain”, where is the project?
Surely we would know about something this massive, right?
Koozi Bear has been using his expert sniffer to pick up smells about government involvement, but until overwhelming evidence is found, this is purely speculation…..
<center>**After round 2 of connecting the dots, here is what Koozi has found so far:**</center>
<center>If there are any additions or comments
you would like to add to Koozi’s Diagram, please share!</center>
**If there is a larger government project going on here,
why wouldn’t they just have one big team from the beginning?**
**Here are a few reasons:**
- If one smaller team fails, the blockchain and other teams can keep going, and a new team can be funded to continue where the team that failed left off (hooray open source!)
- Different industries and different use cases for each team
- To keep things quieter in the beginning (sorry China!)
**Cryptocurrency is just one part of this “Great Blockchain of China”. A blockchain of this magnitude will be able to handle all of the data for:**
- Healthcare
- Real Estate
- Insurance
- Finance
- Business
- Government
- Artificial Intelligence
Wait, what was that last one…AI?
Yes, you heard it. China is setting themselves up to be a lead competitor in the Artificial Intelligence Race. This is some serious stuff. AI is the new Arms Race, why? Because everyone is essentially on the same playing field again like pre-WW2, and **whoever builds AI first could potentially become the most powerful entity in the world**. Koozi is not trying to claim that China is racing to build AI for world domination (or any country for that matter), but it would be ignorant and dangerous to say that leading countries are not treating AI like it is another Arms Race.
It is that serious.
What do you need for AI? Tons and tons and tons of data. Gathering all of that data can be tough for teams to do. You have to pull the data from every resource imaginable, and that usually always requires certain permissions, grants, and other obstacles JUST to get access. Look at that diagram above. If these teams are all working together, are they all sharing data? Probably. These teams are also partnering with the largest businesses, data companies and government programs in China. For example, BBN is partnered with Unionpay, and they will be given access to Unionpay’s financial data etc. for their systems. Unionpay process 80% of all financial data in China, **so having access to that level data, that easily, is huge**. There are dozens of more examples like this.
Why does it seem like these connections are happening so quickly and easily? Koozi is suggesting that the Chinese government has major influence and may even be pulling some strings behind the scenes — using some of these projects as incubators for the largest businesses and government programs.
**Major news from China was also released a few days ago, coincidence?: http://www.bbc.com/news/world-asia-china-43361276**
President Xi has been known to support control, centralization, and censorship. Now that he has consolidated power, changed the constitution and has been voted to be President for life, creating and implementing a blockchain of this magnitude is even easier to accomplish now.
We are expecting many more teams to surface as additions to this “Great Blockchain of China”, and we are also expecting more partnerships to be formed between teams, government and businesses.
As more connections are added, the bigger picture will become crystal clear.
This honey pot is really stirring now!
<h1>**Stay tuned for Connecting the Dots: Part 3**</h1>
<h2>**Hey look! TheCryptoBears have Twitters!:**</h2>
Koozi Bear (@TheBannedBear) | Twitter
Whobiz (@BizMunny) | Twitter" |
|---|
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