Ethereum would be looking to partner with China after the Asian country said it would be looking to increase its blockchain processes
Since some weeks ago, the government of the People’s Republic of China has been promoting a strong campaign of acceptance to blockchain technology and its growth in the field of new technologies in the financial and administrative management.
Among what stands out the most is the government’s effort to develop research groups which help put this technology at the forefront. China has been one of the few countries that has decided to approve the adoption of blockchain technology and adapt it to the dynamics of its economy.
In this sense, it was possible to verify that representatives of the Ethereum company could offer the Asian government their contribution to advance in processes of adoption of blockchain technology, as well as support or assistance for the cryptocurrency preparations that the Chinese government plans to launch in the near future.
Ethereum Hopes to Have Free Access to The Chinese Market
Given the remarkable growth of blockchain technology in the Chinese market, Joseph Lubin, one of the founders of Ethereum, said he would like to collaborate with the Chinese government to improve the adoption levels of blockchain technology.
Lubin also assured that it would be possible to achieve a positive impact on the Chinese market, if ETH was allowed access. This action would not only significantly improve the capabilities of the digital currency and the use of blockchain technology, but it would inject more dynamism into the already large Asian market.
As blockchain platforms are having good levels of acceptance in the country’s growing innovative industrialization, there is still much to improve, Lubin said, adding that these platforms would not yet be the most powerful in the world.
“I would love to help China to get expert in Ethereum technology. The main idea is that Ethereum is the strongest of blockchain technologies and it’s a very positive “virus” to implant in people’s minds”, the co-founder of the startup firm said.
Despite this offer and the opinion of different experts on crypto-economic issues, Lubin said he does not believe it is possible for the Chinese government to allow Ethereum to operate freely for its market. He does not believe that it would be possible to work “hand in hand” with the digital currency that China seeks to launch in its market. However, he hopes that Chinese politicians will consider this offer and evaluate the benefits of applying this types of technologies.
“I assume it is going to be exactly what Chinese leadership thinks is most beneficial to Chinese leadership. Hopefully that’s also open and we can interoperate with it (the virtual currency of the Chinese government), but I don’t know”, he recently said.
About the possibility that the Chinese government decides to reject the use of ETH in its economic market, even legally condemning those who use that platform, Lubin commented that it may be a reality and that this will depend on the final decisions of government representatives.
“China is a business that writes its own rules and has an enormous customer base: 1.4 billion people. That’s a tough economic force to compete with. I think there is instability. I think leaders are constantly terrified of revolution, so they have to keep the people relatively happy at some baseline level”, Lubin concluded.
These official statements of one of the most important representatives of the powerful firm Ethereum demonstrate the great relevance that it has for the global crypto market to introduce this technology in China. For this reason, Ethereum is looking for a possible agreement or alliance with the Asian giant that allow to potentially benefit both parties.
By María Rodríguez