Bitcoin in China: Apps Like OKLink Are Huge Market Players
Bitcoin continues to rise as an integral and sustainable part of the economy. When it comes to Bitcoin adoption, most of the money is flowing freely through Chinese Bitcoin exchanges, and OKCoin has been innovating with a superwallet, OKLink, to harness that competitive edge. Since it entered its beta testing phase last April, OKLink has been an integral connection between CNY and BTC.
Exchanges are a solid part of the Chinese Bitcoin economy. Everything totally makes sense as banks gradually express their interest in crypto-technology. There are still a lot of regulation hurdles in store, but until then, bitcoin development and evolution moves on.
“The people behind the industry used to be very libertarian, very political in nature, and wanted to push an alternative currency and an alternative lifestyle. You are now seeing the bitcoin players receive venture capital and work with banks closely, trying to create a more harmonious financial system integrating the traditional financial system with the Bitcoin network, and that’s going to be much more powerful,” stated Jack Liu, international business director at OKCoin in an interview with Bloomberg.
The best attributes of a business can be drawn by providing fresh ideas that will complement the advancements of technology. OKCoin.cn and OKCoin.com are two distinct companies maintained by the same stakeholders and engrossed correspondingly on Chinese and global virtual currency trading.
On the same interview, Liu expressed,
“This year, many bankers also generated strong interest in Bitcoin, starting with Bitcoin startups with more cooperation, committed to creating a more open financial system. This is a really big market, especially for China. Now, Bitcoin investments in China are accounted for 50% of the total amount of Bitcoin ventures, and the Bitcoin trading volume in China is accounted for 60% of the trading volume.”
Some say the Bitcoin value is still correcting while others believe it is simply finding the right time before making another spike. The latter, however, proves to be the more realistic prediction. With these applications, further adoption is more than possible.
Learn more about the rapid development of the Bitcoin Asia situation here at Coin News Asia.