The blockchain endorsement from Chinese President Xi Jinping prompted a surge in the price of bitcoin. Photo: Reuters
Blockchain endorsement from China’s Xi Jinping could lead to fraud and speculation, technology analysts warn
- The endorsement from China’s leader prompted a surge in the price of bitcoin, while development companies and institutions celebrated the blessing for the industry
- Analysts, though, are wary that it could lead local officials, tech start-ups and cryptocurrency investors to misuse and distort the technology for their own gains
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Blockchain
The blockchain endorsement from Chinese President Xi Jinping prompted a surge in the price of bitcoin. Photo: Reuters
China manufacturing purchasing managers (PMI) index dropped to 49.3 in October from 49.8 in September, below expectations. Photo: AFP
China manufacturing slumps for sixth straight month, October PMI below expectations
- China’s manufacturing purchasing managers’ index (PMI) dropped to 49.3 in October from 49.8 in September, below expectations
- China’s non-manufacturing PMI also fell to 52.8 in October from 53.7 in September, also below expectations
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China economy
China manufacturing purchasing managers (PMI) index dropped to 49.3 in October from 49.8 in September, below expectations. Photo: AFP