In China, it’s Blockchain and Tyranny vs Bitcoin and Freedom

China’s centralized blockchains couldn’t be any farther from Bitcoin’s. Designed for maximum control, they will become tools for improved surveillance and social engineering.

On October 24, 2019, President Xi Jinping gave a major speech about how China is going to make blockchain technology a national priority. He said China would “take the leading position in the emerging field of blockchain” and explore its use “in people’s daily life.” China’s most-watched daily news show covered the speech in primetime, and the next day, the People’s Daily propaganda newspaper ran a front-page story on Xi and blockchain. Searches for “blockchain” on China’s most popular browser Baidu rose 200 percent.