Chinese stocks associated with blockchain jumped after President Xi Jinping extolled the technology popularized by Bitcoin.
Dozens of Chinese financial and technology firms making use of the digital database rose to their daily 10% limit on Monday.
It was the first day of trading in China after Chinese state media reported on Friday evening Xi’s speech urging the development of blockchain technology.
Xi’s remarks represented a stamp of approval from the highest level of China’s government of blockchain, potentially accelerating and widening the application of the technology in industries including banking and supply chain management.
A blockchain is akin to a digital ledger, allowing users t
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Oct 28, 2019