China’s Blockchain Revolution Won’t Set Investors Free

Chinese President Xi Jinping on Thursday elevated blockchain, the encrypted digital ledger technology, to “core” technology status in China, virtually guaranteeing significant investment. Prices for blockchain technology companies and the popular blockchain-based cryptocurrency bitcoin leapt, with the latter up by around 30%. Is this the next big Chinese technology investment opportunity?

Investors should be very cautious. Rather than bitcoin, a more likely longer-term beneficiary of the new investment push is the Chinese…

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