China is known for its unfriendly positioning regarding Bitcoin and crypto-coins. The wave of regulations in the country has caused and continues to have serious effects on the market.
Last year, the country shook the community by banning ICOs and ordering the closure of national crypto-currencies brokers. Yesterday, regulations continued and the government introduced more bans when restricting access to international brokers. Now amid these attempts to control the market and the industry, rumors of a possible adoption of Ripple by the People's Bank of China are emerging.
Blockchain ambassadors?
Last year, BPC representatives visited Coinbase and Ripple as a research delegation. The purpose was to discuss the "important" subject that is the crypto-coins. Local news site Sohu reported that a visit to the various fintech startups in San Francisco was part of a mission to understand the US approach to crypto-coin regulation:
"Through mutual communication, members of the delegation have come to a number of valuable and effective conclusions [on regulatory approaches]"
Rumors of adoption
Despite great news, apparently nothing else followed the visit. But yesterday, a redditor named Panosmek posted a link to an article on a website called Coinsforest. The article talks about an alleged announcement by the People's Bank of China of a fintech project using Ripple technology:
"The bank has revealed that it will incorporate Ripple technology into international payments in the future."
Even though they are just rumors at the moment, such plans would not be totally unfamiliar, as several banking giants in Asia are also adopting Ripple technology in their lawsuits.
Do you believe that BPC will adopt Ripple solutions? Leave your opinion in the comments!
Tags: #cryptocurrency #china #ripple #money #investment
Author: Downbit
