Bitcoin Blocked in China as Banks Embrace Blockchain

One of the largest state banking groups in China, supposedly the Bank of Communications, has completed a significant transaction on the blockchain, concerning an issue of residential mortgage-backed securities, or in short RMBS.

The transaction is valued at approximately 1,3 billion dollars according to Coindesk that first reported this, with the transaction taking place on the so-called Jucai Chain blockchain, built by the state itself.

Some news sources are rather surprised by this news, for no good reason, as bitcoin and blockchain technology are two separate things, anyone can set up their own blockchain and there’s no need whatsoever to hold bitcoins to do that.

Nonetheless, great news for the blockchain, not so much for Bitcoin itself.

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