Le membre du Congrès Kevin McCarthy a exhorté la secrétaire au Trésor Janet Yellen et le président de la Réserve fédérale Jerome Powell à ne pas ignorer le bitcoin comme ils ont essayé de le faire. Il pense que c’est l’avenir, soulignant: ” Je ne veux pas que l’Amérique prenne du retard ” sur les autres pays.

Le gouvernement et la Fed ne doivent pas ignorer le bitcoin

Le leader du GOP Kevin McCarthy a parlé du bitcoin dans une interview accordée à CNBC la semaine dernière. Le membre du Congrès McCarthy sert le 23e district de Californie et est actuellement le leader républicain de la Chambre des représentants des États-Unis.

Il lui a été demandé spécifiquement s’il pense que la secrétaire au Trésor Janet Yellen et le président de la Réserve fédérale Jerome Powell ont une bonne compréhension des monnaies numériques ou du bitcoin compte tenu de leurs récents commentaires et quels conseils il a pour eux.

Partisan de longue date du bitcoin, McCarthy a déclaré en juillet 2019: “J’aime le bitcoin” et la sécurité de la technologie blockchain qui le sous-tend. Réitérant son point de vue sur le bitcoin en 2019, le membre du Congrès a répondu: “J’avais raison à l’époque et j’ai raison maintenant”, en élaborant:

Je pense qu’ils ont essayé de l’ignorer pour le faire disparaître. Je pense que Jamie Dimon vous dira que dès le début, il avait tort. C’est un mouvement vers l’avenir. Ils ne doivent pas l’ignorer.

Le PDG de JPMorgan, Jamie Dimon, a qualifié le bitcoin de “fraude” qui est “pire que les bulbes de tulipe” en 2017. Sa banque a parcouru un long chemin depuis lors. Aujourd’hui, JPMorgan dit voir une demande institutionnelle massive pour le bitcoin et a lancé un produit d’investissement en cryptomonnaies qui suit les entreprises publiques exposées au bitcoin.

Elle a qualifié le bitcoin d'”actif hautement spéculatif” en février

Le président de la Réserve fédérale, M. Powell, et le secrétaire au Trésor ne se sont pas réchauffés au bitcoin. M. Powell a déclaré la semaine dernière que les crypto-monnaies étaient des “véhicules de spéculation”. Il a affirmé qu'”elles ne sont pas vraiment utilisées activement comme moyen de paiement”, malgré une liste croissante d’entreprises qui les acceptent comme moyen de paiement, notamment Tesla d’Elon Musk. La secrétaire au Trésor, Mme Yellen, partage un sentiment similaire.

Elle a qualifié le bitcoin d'”actif hautement spéculatif” en février, affirmant qu’il n’était pas “largement utilisé comme mécanisme de transmission” et constituait un “moyen extrêmement inefficace d’effectuer des transactions”. Mme Yellen a également averti que l’utilisation abusive des crypto-monnaies était un problème croissant, notant que les crypto-monnaies étaient principalement utilisées pour des financements illicites.

McCarthy a en outre déclaré lors de l’interview de la semaine dernière qu’en ce qui concerne le bitcoin et les crypto-monnaies, le secrétaire au Trésor Yellen et le président de la Fed Powell “devraient non seulement en apprendre davantage à ce sujet, mais la base va continuer à se développer.” Il a ajouté:

C’est quelque chose que ceux qui réglementent, ceux qui sont dans le gouvernement qui font la politique feraient mieux de commencer à comprendre ce que cela signifie pour l’avenir.

Le membre du Congrès a souligné que “d’autres pays vont de l’avant” dans le domaine des monnaies numériques. “Je ne veux pas que l’Amérique prenne du retard. Je veux que le prochain siècle soit le nôtre. C’est pourquoi je veux regarder vers l’avant, pas vers l’arrière, et ne pas faire l’autruche”, a conclu le législateur.

Der rasante Wertanstieg von Kryptowährungen, insbesondere von Bitcoin, hat dazu geführt, dass viele Anleger ihr Geld darauf setzen. Bergbauunternehmen haben gespürt, dass die steigende Nachfrage die Produktion jetzt ankurbelt, um den Markt zu sättigen.

Steigerung der Produktionskapazität

Im Einklang mit seinen Expansionsbemühungen hat Hut 8, ein kanadisches Bitcoin Evolution Bergbauunternehmen, ein Darlehen zum Kauf von 5.400 Einheiten der Bergbaumaschinen von MicroBT erhalten. Laut einer Pressemitteilung bestätigte das Unternehmen, dass es eine Partnerschaft mit Foundry Digital, einer Tochtergesellschaft der Digital Currency Group, für das Darlehen in Höhe von 11,8 Mio. USD geschlossen hatte. Hut 8 hofft, mit dem Neukauf seine Bergbaukapazität innerhalb von sechs Monaten um 475 Petahashes pro Sekunde (PH / s) zu erhöhen.

In der Ankündigung wurde erklärt, dass die Darlehenslaufzeit 12 Monate mit einer erwarteten Rate von 16,5% betragen würde. Wie Hut 8 erklärte, flossen die Mittel bereits in den Kauf und es wird die erste Charge von Bergbaumaschinen nach einer Anzahlung von 2,9 Mio. USD vor Ende des Jahres erwartet.

Der Kryptowährungsmarkt hat in letzter Zeit aufgrund seiner historischen Höchststände eine Menge finanzieller Muskeln im Finanzkreis angezogen. Dies hat dazu geführt, dass immer mehr Bergbauunternehmen entstanden sind und auf eine beispiellose Nachfrage nach Bergbauhardware reagiert haben.

Eine Studie des Blockchain-Geheimdienstunternehmens Glassnode zeigt, dass die Nachfrage nach Bergbauhardware erheblich gestiegen ist. Die Hersteller von Bitcoin-Rigs erwarten einen Umsatz von 20 Milliarden US-Dollar.

Vermeidung von Liquiditätsengpässen

Der Anstieg der Nachfrage wirkt sich jedoch auch nachteilig aus, da die Rig-Hersteller nun mit einem erheblichen Lagermangel konfrontiert sind. Gestern berichtete Reuters , dass mehrere Rig-Hersteller monatelang keinen Lagerbestand haben werden, da sie ihre Lagerbestände voll ausgeschöpft hatten und nun darum bemüht waren, ihre Verpflichtungen zu erfüllen.

Reuters stellte fest, dass Bitmain, der Branchenführer, seine Lagerbestände ausverkauft hat und frühestens im August etwas zur Verfügung haben wird. Die meisten Rigs des Unternehmens werden jetzt auch mit einer Prämie gehandelt – Bitmains Flaggschiff Antminer s19 wurde im November für einen Stückpreis von 1.897 US-Dollar verkauft, wird aber jetzt für 2.767 US-Dollar pro Rig verkauft.

Bitmain musste in letzter Zeit rund um die Uhr arbeiten, da es umfangreiche Angebote von mehreren nordamerikanischen Bergbauunternehmen hat. Der chinesische Rig-Hersteller wird in diesem Jahr 70.000 Antminer-Rigs an die in Nevada ansässige Marathon Patent Group sowie weitere 15.000 Rigs an die in Colorado ansässige Riot Blockchain senden.

Bergbau-Outfits hoffen, eine bedeutende Marktlücke zu schließen, da Tageshändler jetzt mehr Bitcoins fordern. Der Zustrom institutioneller Anleger hat zu einer gewissen Liquiditätskrise geführt, da Unternehmen wie MicroStrategy und Grayscale Investments fast jede Woche mehr von dem Vermögen aufsaugen. Eine Liquiditätskrise könnte Bitcoin in Zukunft gut tun, bedeutet aber auch, dass Daytrader und Privatanleger nicht über genügend Bitcoins verfügen, um damit zu arbeiten.

Insieme al resto del mercato delle criptovalute, bitcoin si sta consolidando oggi dopo alcuni giorni di intensa turbolenza.

La criptovaluta leader al mondo si è ripresa dopo una recente massiccia svendita che l’ha vista scendere sotto i $ 40.000 dopo che i tori sono intervenuti e hanno assorbito l’afflusso della pressione di vendita, consentendo a BTCUSD di salire alle stelle.

Al momento della stesura di questo articolo, il trading di criptovalute di punta a $ 40,414 per dati da CoinMarketCap.

Anche se il trend rialzista di BTC ha rallentato in una certa misura, la king coin ha impressionato gli investitori con la sua corsa rialzista che l’ha vista raggiungere il doppio del suo massimo storico precedente.

Il recente rialzo ha solo assicurato che più occhi si volgano al Bitcoin , che si estende da Wall Street alla vendita al dettaglio. Il valore di BTC sembra destinato a salire ancora più in alto nelle prossime settimane e mesi, poiché la sua rarità codificata continua a causare uno shock di offerta in mezzo all’aumento dell’inflazione globale.

Le altcoin stanno crescendo in valore in USD

Mentre il bitcoin continua a salire più in alto in un rally parabolico in piena regola alimentato dalla crescente pressione di acquisto, molti investitori si sono rivolti a altcoin più economici.

Il risultato di maggiori afflussi di capitale nelle alternative BTC è stato un visibile trend rialzista e apprezzamento dei prezzi sulle coppie USD delle principali altcoin come ETH, ADA e LINK.

Il trend rialzista in corso dell’altcoin sulla scia di un implacabile rally di BTC non ha nulla a che fare con ciò che è stato visto negli anni precedenti. La tendenza ha portato un analista a sostenere che il mercato delle criptovalute si trova attualmente in un “territorio inesplorato”.

“BTC sta spingendo il mercato delle altcoin in un territorio inesplorato. Le coppie di USD stanno girando mentre le coppie BTC stanno ancora raggiungendo i minimi. Questo non è mai accaduto prima su una scala così macro ”, ha twittato l’analista .

L’ETH affronta l’aumento della pressione di vendita vicino ai 1.300 dollari

Nel frattempo, il prezzo dell’ETH si è consolidato ed è sceso leggermente al ribasso dopo che i rialzisti hanno faticato a guadagnare uno slancio sostanziale oltre la regione di 1.200 $. Ogni spinta verso $ 1.300 ha scatenato più rifiuti, con la pressione di vendita che si è dimostrata intensa.

Detto questo, un analista prevede che i rialzisti potrebbero essere ben pronti a catalizzare un ulteriore rialzo nei giorni e nelle settimane a venire.

Trader SmartContractor ha recentemente fatto un caso per ETH mira il basso a regione di $ 2.000 in medio termine, aggiungendo che non sarebbe sorpreso se la moneta è salito molto più alto.

EN BREF

• Bitcoin Dominance (BTCD) a été rejeté par la zone de résistance de 71,5%.
• BTCD suit une ligne de support ascendante.
• ALTPERP s’est détaché d’une ligne de résistance descendante.

Le Bitcoin Dominance Rate (BTCD) a été rejeté par la zone de résistance à long terme de 71,5 %, créant une longue mèche supérieure et se fermant en dessous de la zone.

La dominance du bitcoin devrait diminuer vers la zone de résistance de 66 %, au moins à court terme.

Rejet à long terme de la dominance des bitcoins

Durant la semaine du 27 décembre au 4 janvier, le BTCD semble avoir dépassé la zone de résistance de 71,5 %, ce qu’il n’avait pas fait depuis le début de 2017.

Alors que le BTCD a atteint un sommet de 73,63 % le 3 janvier, il a ensuite fortement diminué. Il a laissé une longue mèche supérieure dans son sillage et s’est fermé en dessous de la zone de résistance de 71,5 %.

Malgré le rejet et la baisse, les indicateurs techniques de la semaine sont toujours haussiers, ce qui suggère que le BTCD devrait finir par dépasser ce niveau. Si c’est le cas, la prochaine zone de résistance se situerait à 84%.

Mouvement futur du BTCD

Cryptocurrency trader @TheEWguy a présenté un graphique BTCD, indiquant que les altcoins vont probablement obtenir un rallye de secours très bientôt. Cependant, il pense que le BTCD augmentera à nouveau après – donnant un objectif proche de 78%.

Le graphique quotidien montre que le BTCD a suivi une ligne de soutien ascendante depuis le début de la hausse début septembre. La ligne est actuellement proche de 66%.

Contrairement au calendrier hebdomadaire, le graphique journalier présente une faiblesse évidente, visible sous la forme de :

• Divergence baissière du RSI
• Croix baissière dans l’oscillateur stochastique
• Abaisser la barre d’élan dans le MACD

Par conséquent, le BTCD devrait diminuer vers la ligne de soutien près de 66%.

Le graphique de six heures montre une parabole décomposée, et une zone de soutien trouvée entre 65,88%-67,38% (0,5-0,618 niveaux de retracement de la fibre), qui coïncide également avec la ligne de soutien ascendante décrite précédemment.

Par conséquent, le scénario le plus probable serait une diminution vers ce niveau avant qu’un rebond ne se produise.

Altcoin Index Perpetual Futures (ALTPERP)

L’ALTPERP a diminué le long d’une ligne de résistance descendante depuis qu’il a atteint un sommet de 1 226 dollars le 24 novembre. Le 3 janvier, l’ALTPERP a éclaté et a atteint le lendemain un sommet de 1 383 dollars.

Cependant, le chandelier quotidien actuel a une longue mèche supérieure et, selon la proximité, pourrait être une étoile filante. C’est un signe que le PREPEL pourrait diminuer pour valider la ligne de rupture ou éventuellement la zone de soutien de 1 100 $.

Toutefois, les indicateurs techniques sont haussiers, de sorte que l’ALTPERP devrait encore reprendre son mouvement ascendant par la suite.

Conclusion

Si la domination des bitcoins (BTCD) devrait diminuer à court terme, il est possible que la tendance à long terme soit toujours haussière.

L’indice Altcoin est sorti d’une ligne de résistance descendante et devrait continuer à augmenter.

The crypto community has already participated in Dave Portnoy’s fundraising campaign with more than 750,000 US dollars.

Sports journalist and influencer Dave Portnoy is now accepting Bitcoin (BTC) and other cryptocurrencies in his small business donation fund. Less than 24 hours after the announcement, the crypto community has already been very supportive.

The Barstool Fund, named after Barstool Sports, Portnoy’s sports blog, was launched last week to help small business owners struggling as a result of the Corona crisis. At the time of going to press, the fund has raised just under $5.3 million, which will benefit 14 different businesses. More than 53,000 donors have contributed so far. For tax reasons, the fundraising campaign will only run until the end of the year.

A large part of the donations, as already mentioned, comes from the crypto community. The crypto asset management company Morgan Creek Digital has set up a separate Bitcoin address for this purpose via the donation portal The Giving Block. In addition to Bitcoin, the Barstool Fund also accepts donations in the form of Ethereum, Litecoin, Bitcoin Cash, Zcash, Basic Attention Token, Chainlink, Gemini Dollar, DAI, Storj, Amp and 0x.

Anthony Pompliano, one of the co-founders of Morgan Creek Digital, tells Cointelegraph that “at least US$750,000” in cryptocurrencies had been received by Friday morning:

“It’s difficult to say exactly what donations have come from the crypto community, but we can say with certainty that at least US$750,000 has been donated in cryptocurrencies. So the actual amount donated by the crypto community is very likely higher.”
“2020 was a difficult year,” Pompliano says to that effect. However, he adds, “Bitcoin has been good for all of us.”

And further:

“There’s no better way to end this year than with a new Bitcoin record high and some donations to share our good fortune.”
Cointelegraph reporter Helen Partz checked in with Alex Wilson of The Giving Block to find out how crypto donations to the Barstool Fund work.

Crypto users can donate by visiting the Barstool Fund website, clicking the appropriate button and selecting the cryptocurrency of their choice. A wallet address is then displayed, to which they can then send their crypto donation funds. Once the payment has been processed, donors will receive a receipt by email.

The Corona crisis has been known to cause severe cuts to social life. Small business owners suffer particularly badly from the repeated lockdown, as their operating costs often continue without generating new revenue. Many self-employed people therefore find themselves on the edge of their existence.

As Pompliano notes, small businesses are responsible for nearly 50% of all jobs in the US and are “representative of the American Dream” around the world. The economic consequences for American small business owners will, in his opinion, be felt around the world.

Meanwhile, the US Parliament has agreed on a new Corona aid package that is to provide 284 billion US dollars. However, as the lockdown will continue indefinitely, many experts fear that more aid will be needed in the future. The restaurant, tourism and hotel industries are particularly hard hit by the curfews.

The French company Just Mining specializing in mining has just added a token to its staking offer. The company was started by influencer Hasheur who was recently interviewed by Be [In] Crypto .

Just Mining has just added to its staking offer a decentralized finance token (DeFi) called Band Protocol (BAND)

The company announces a return on investment of 14%. In other words, if you deposit 100 BAND you can earn an additional 14 BAND at the end of the year.

From now on, Bitcoin Superstar supports 6 projects related to DeFi with Kava (KAVA) and Synthetix (SNX) tokens, Loom Network (LOOM), Kyber Network (KNC) and Matic Network (MATIC).

What is the Band Protocol?

Band Protocol is a decentralized database for dApps. From a technical point of view, Band Protocol is a decentralized cross-chain oracle that allows smart-contracts to connect and aggregate any data source.

Band Protocol allows developers to create custom oracle requests on the BandChain – a decentralized oracle network secured by delegated proof of stake consensus.

A report from Kraken analyzes recent movements in Bitcoin (BTC), which initiated a bull run during the month of October. And he is rather optimistic about the months to come…

Bitcoin (BTC) will soon exceed its “all time high”?

This is the conclusion of the Kraken report , which was released recently. He indicates that the price of Bitcoin has been particularly volatile: starting from $ 10,384 in early October, it reached its record for the month at $ 14,080 on October 31. Since then, we know of course that Bitcoin Circuit has exceeded these levels, with a lasting breakthrough above $ 15,000 : it is trading this morning against $ 15,377:

In addition, the report recalls that the correlation between Bitcoin and the S&P 500 is at its lowest in October, at -0.43. This would indicate that BTC ” is breaking away from traditional financial assets” . Which is a pretty good sign for the future of cryptocurrency.

A bull run that will continue for Bitcoin

October was the third most successful month in Bitcoin history , considering the median performance of BTC. Which makes Kraken say that the price will continue to climb in November, and even beyond:

“With Bitcoin hitting a 33-month record, with another price record after 3 years of downtrend, […] a breakout above $ 20,000 looks likely in the coming months. ”

The indicators therefore appear to be green for Bitcoin, which took advantage of the uncertainties surrounding the US elections to boost its price at the beginning of November. However, it should be noted that yesterday it experienced a significant drop after it was learned that a vaccine against Covid-19 was viable . If he manages to exceed $ 20,000 in the coming months, he will however beat his all-time high of 2017.

Kun on kyse kiinnostuksesta Bitcoiniin omaisuuseränä ja arvon säilyttäjänä, mikään julkinen yritys ei ole asettanut digitaaliseen omaisuuteen enemmän kuin Harmaasävy, kun he luottavat BTC: hen. Ajatus julkisista yrityksistä, joilla on BTC, monista syistä kasvaa ja haastaa huipun.

Coin98 Analytics on havainnut, että 13 yritystä sijoittaa Bitcoiniin. Tästä Harmaasävy on todellakin lammen suurin kala, sillä yhtiöllä on hallussaan 449596 BTC (5,14 miljardia dollaria), jota seuraa CoinSharesin 69730 BTC (797 miljoonaa dollaria).

Suuntaus kuitenkin kasvaa, ja yhä useammat korkean profiilin yritykset eivät vain investoi kolikkoon, vaan laulavat sen ylistykset vaihtoehtoisena arvovarastona aikana, jolloin perinteisiin polkuihin suhtaudutaan moraalisen skeptisesti.
Suuri usko

On tietysti monia yrityksiä, jotka ovat sijoittaneet Bitcoiniin, koska se on osa heidän palveluitaan, kuten harmaasävy, mutta yksi yritys, joka on äskettäin julkaissut otsikoita, on MicroStratergy, yritystietoyritys, joka äskettäin investoi Bitcoiniin ja investoi sitten enemmän, istumaan 471,1 miljoonan dollarin arvoinen BTC.

Tämä MicroStrategyin sijoitus ei vain osoita yrityksen potentiaalia varastoida jäljellä oleva pääoma, vaan se tukee suurta päätä.

“Tämä sijoitus heijastaa uskoamme siihen, että Bitcoin, joka on maailman yleisimmin käytetty kryptovaluutta, on luotettava arvovarasto ja houkutteleva sijoitusomaisuus, jolla on enemmän pitkän aikavälin arvostusmahdollisuuksia kuin käteisen hallussa. Yli vuosikymmen sitten perustamisestaan ​​lähtien Bitcoin on noussut merkittäväksi lisäykseksi maailmanlaajuiselle rahoitusjärjestelmälle, ja sen ominaisuuksista on hyötyä sekä yksityishenkilöille että instituutioille.

“MicroStrategy on tunnustanut Bitcoinin lailliseksi sijoitusomaisuudeksi, joka voi olla korkeampi kuin käteinen, ja sen vuoksi se on tehnyt Bitcoinista tärkeimmän omistusosuuden varainhallintastrategiassaan”, yhtiön toimitusjohtaja Michael Saylor sanoi.
Markkinoiden muuttaminen

On tunne, että näillä suurten yritysten kryptovaluuttaan tekemillä investoinneilla on paljon tekemistä markkinoiden nykytilan ja halun vaihtoehtoisen omaisuuden kanssa. Ei monet omaisuuserät, lukuun ottamatta todennäköisesti kultaa, toimivat korrelaatiossa, joka poikkeaa perinteisistä markkinoista – Bitcoiniin asti.

Cointelegraph Markets and Digital Assets Data -sivuston vertailun mukaan S&P 500: n ja kullan muodossa olevat varastot näkevät nyt kasvavan korrelaatiomallin BTC: n kanssa.

Tämä puolestaan ​​on lisännyt ennakointia puhtaasta poikkeamisesta perinteisiltä markkinoilta – Bitcoinin “irrottaminen” tasoittaa tietä merkittäville hintavoitoille, analyytikot väittävät.

The recent downturn in many DeFi projects suggests an overvaluation, but sales and TVL suggest there is cause for optimism.

There has been plenty of movement in the crypto market over the past month as the six-month upward trend in altcoins has come to an abrupt end while market leader Bitcoin ( BTC ) failed to break through the $ 12,000 hurdle

At the same time, the great run of decentralized financial services (DeFi) continued, as a result of which the “Total Value Locked”, ie the total assets invested in DeFi projects, rose to more than 10 billion US dollars, although it was for the exchange rates of the DeFi-Kryptos even went down slightly.

As Cointelegraph had previously reported, the DeFi crashed at the end of September after Bitcoin ( BTC ) and Ether ( ETH ) had previously fallen. The news that US President Donald Trump was infected with the corona virus then seemed to do additional damage to the DeFi market.

Although Maker ( MKR ), Uniswap ( UNI ), Yearn.finance ( YFI ) and other DeFi cryptocurrencies have suffered significant losses in the past two weeks, a lot of other data suggests that the fundamentals of DeFi cryptos are still strong are.

Makers, Uniswap and Aave deserve special mention, whose sales have increased between 130% and 440% in the last 30 days, although (!) Their prices have all fallen.

Many DeFi cryptos are overrated

It is difficult to measure the exact value of DeFi projects on the basis of standardized key figures, as the projects sometimes differ fundamentally. The most commonly used key figures are sales and Total Value Locked (TVL).

The turnover indicates how much capital DeFi projects earn from their actual product, which in turn shows how the respective demand is and what the mood is on the market.

The Total Value Locked, on the other hand, shows how much assets are invested in a DeFi project. This in turn shows how optimistic the investors are about the project and what market share it has. The TVL is also indirectly linked to the available liquidity and the volume of the staking pools.

Revenue change versus token price change of major DeFi networks. Source: Twitter.com

As can be seen from the table above, the turnover of the large DeFi projects has increased significantly in the last 30 days. Nonetheless, the associated cryptocurrencies have lost between 20% – 82%. Maker is a good example of this, because while the share price fell by 24% here, sales rose a whopping 449%.

If the TVL of a DeFi project is constant and sales are increasing, then a drop in prices indicates that the mood in the market is currently very cautious. A similar phenomenon can also be seen at Uniswap and Aave, because there are also heavy losses on the table here, while both projects have gained more than 235% in sales.

Jeff Dorman, the head of investment at Arca, explains that the fundamentals, here in the form of sales and TVL, do not necessarily have to develop in the same way as the price. Considering the apparent contradiction between the rising sales and the falling prices of the DeFi projects , Dorman writes :

“Prices and fundamentals don’t always move as you think. The DeFi are a good example of this this month. “

China’s IT ministry still has some concerns about “blockchain hospital”.

China’s first “blockchain hospital” is scheduled to open in 2021, but some members of the government are now expressing concerns about data protection

According to Cn-Healthcare , the First Affiliated Hospital of Dalian Medical University plans to start a corresponding pilot program from January 2021. The blockchain technology is to be used in the course of this to save patient data and treatment data.

The blockchain platform used is intended, among other things, to enable patients to access a so-called “Internet hospital” via the WeChat app, which is very popular in China. One of the goals of the program is to make administrative processes increasingly contactless, which is all the more important due to the ongoing Corona crisis.

However, several members of the Chinese Ministry of Information Technology have concerns about the security of the blockchain application and also see data protection at risk.

Niu Tie, the director of the hospital, replied:

“Our IT department is under a lot of pressure from the government. As one of the leading hospitals in our region, we can assure you that we made our decisions with great caution. In addition, the data protection regulations are very strict anyway. The IT ministry has checked our blockchain application with regard to data security and also made specifications for development. ”
As Niu states, the ministry has made it a condition that data can be verified and that it can be securely stored, transferred and accessed.

The ministry’s concerns may well stem from the fact that patient and treatment data is stored on WeChat’s blockchain network. Hospital management and the IT ministry now want to discuss in further discussions how security and data protection can best be guaranteed.

China is actually known as a surveillance state , which makes the government’s current concerns contradicting and almost unreliable.

However, the “Middle Kingdom” is very benevolent of blockchain technology, because in 2020 alone, Chinese companies are said to have submitted more than half of all blockchain patents worldwide . Even China’s President Xi Jinping has already publicly praised the technology .