Yuedong, a village located in China’s Wenzhou region, stands out from the other villages by its engrossment with cryptocurrencies and blockchain technology. This has made Yuedong a huge tourist attraction with a growing number of crypto enthusiasts making the trip to witness the unique attitude of the locals.
Locally regarded as the “blockchain industrial village”, an estimated 60% of the locals have apt knowledge of the subject and have invested in digital assets. Additionally, about 10% of residents are making efforts to bolster technology by taking time off their busy schedules.
With the surge in the number of Chinese traders seeking to tap into the crypto market, Yuedong residents are not far behind when it comes to their involvement in the digital market. The villagers have also built a crypto-themed park to capitalize on visiting tourists, whose numbers are swelling. Chinese social media shared images from blogging platform Weibo which showcased cryptocurrency-themed engravings on the guardrails of Yuedong.
These etchings included BTC, ETH, BNB and ONT. This would have been challenging without the sheer determination and the generous donations by the crypto enthusiasts of the village. The village reportedly owes this attitude to Yang Linke, the co-founder of China’s first Bitcoin exchange, BTCchina. Resident Yang Linke posted crypto-themed images of the village to his Weibo account, saying:
“Things that can be seen in Silicon Valley, but they appear in our remote mountain village. We Wenzhou people dare to be the first in the world.”
Although trade in the digital market might have dipped in China after the ban, the support of the locals could potentially make the lawmakers come up with friendly regulations to attract investors and companies towards crypto.
There is obstinate local support for cryptocurrency it keeps a check on the regulations and bans imposed by the government on the digital market. Thus, as mentioned in an earlier piece on Bitcoin News, China could potentially have an influence on Bitcoin’s success in 2019. These gestures prove that China’s contribution to the growth of the Blockchain technology is still thriving.
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