Chinese Marketing Mogul Appoints Pro-Blockchain Executive

A number one Chinese advertising and administration behemoth, ChinaWeb, has introduced that vibrant and pro-blockchain Mr. Yingguo Guo is now the brand new Chief Technology Official (CTO) of the corporate, in accordance with a press launch immediately.

ChinaWeb Hires Pro-Blockchain Executive

ChinaWeb is a NASDAQ-listed firm (Nasdaq-CNET). According to the corporate’s web site, ChinaWeb is “integrated online advertising, precision marketing, and data analysis and management services platform” that’s targeted on offering complete information evaluation for its shoppers to assist enhance their enterprise outcomes in addition to create environment friendly enterprises. 

In the announcement, the corporate mentioned that Yingguo will use his management capabilities and wealth of expertise in technological innovation to assist ChinaWeb to develop its curiosity within the improvement of blockchain technology. 

Speaking in regards to the new improvement, Mr. Handong Cheng, Chairman, President, and CEO of the corporate, shared his gratitude for having such a expertise in his government group. “We are excited about the addition of such high-caliber talent to ChinaNet,” he mentioned, including that “with over ten years of experience in the technology industry, Yingguo’s proven track record in developing strategies and optimizing systems for internet platforms will help drive our growth and streamline our expansion efforts going forward.”

Yingguo has based two technology firms. One of them – Twinkle Entertainment Technology Co., Ltd. (“Twinkle”) – is an digital ticketing platform primarily based on the blockchain technology. He has additionally labored as an government in several technology firms in a number of international locations, together with the well-known Chinese multinational conglomerate, Tencent. 

The Rise of Blockchain in China

China might quickly turn into a world blockchain hub because the nation repeatedly fuels its curiosity in blockchain technology. In October, President Xi Jinping declared his assist for the technology, encouraging the nation to extend its funding within the blockchain sector. According to President Xi, “Blockchain should be made an essential way and main direction to drive China-led technology innovation.” 

Following Xi’s official endorsement of the blockchain, stories revealed that the nation is ready to inject as a lot as $2 billion into its blockchain sector by 2023. Notably, one other report emerged that South China’s Province, Hainan doled out 1 billion yuan ($143M) to startups to advertise the event of the blockchain business within the area. 

Aside from its plans to extend the nation’s funding in blockchain, China is on the verge of releasing a central financial institution digital currency. 

Pro-Blockchain, But Anti-Cryptocurrencies

Despite China’s rising curiosity in blockchain, the nation stays uptight about its clampdown on cryptocurrency trading. The Central Bank of China launched an up to date model of its regulatory framework, clarifying that China’s assist for blockchain is just not an approval for cryptocurrencies. According to the replace, cryptocurrencies are nonetheless unlawful within the nation resulting from their speculative nature and different dangers tied to crypto issuance and trading. 

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