Blockchain Week Vitalik is still in progress, the search volume of “Bitcoin” on WeChat reached 26 million in one day – Cointelegraph Magazine


This weekly news summary from China, Taiwan, and Hong Kong attempts to plan the most important news in the industry, including influential projects, changes in the regulatory environment, and enterprise blockchain integration.

In the 30th Shanghai People’s Column, we previewed Wanxiang Shanghai Blockchain Week, which is an offline event, usually the largest blockchain conference on the Chinese calendar. Next week, despite all the regulatory crackdowns, the event is still planned to continue, albeit a month later than the usual location in mid-September.

Flagship event

Historically, Wanxiang Blockchain Week has attracted a large number of industry participants, including traders, investors, developers, financial institutions and traditional companies. The three-day event is usually supplemented by busy side events, focusing on areas such as DeFi or specific network gatherings.

Last year, after the COVID-19 lockdown, the event became more low-key, especially the lack of overseas speakers such as Vitalik Buterin and Gavin Wood to attend in person. Both of these thought leaders have close ties with Shanghai and have always helped raise the visibility of the event from a technical perspective.

An advertisement at the Wanxiang Blockchain Summit this year focused on digital transformation.Source: Wanxiang Blockchain Lab

Wanxiang Blockchain is a large investment institution that supports some of the most powerful projects in the field. It has invested more than 100 billion yuan in more than 200 projects, and it operates a bit like Eastern Consensys. Its connection with China Wanxiang Group puts it in a higher position in the business world, including a closer relationship with corporate and government resources.

This year’s event is scheduled to take place from October 26th to 27th. Ethereum’s Vitalik Buterin, Chainlink’s Sergey Nazarov, Animoca Brands’ Yat Siu and Solana’s Anatoly Yakovenko will give keynote speeches. It is not clear whether these people will participate in the event in person, but given China’s strict isolation restrictions and cryptocurrency policy, they are more likely to give speeches via video.

In the past, most presentations focused on infrastructure and applications, rather than cryptocurrency and transaction-related activities. This allows the event to continue to attract government representatives regardless of the increasing number of negative policies.

Metaverse and NFT art are two themes that try to avoid the wrath of regulators. Therefore, some related events are classified as the so-called Shanghai Metaverse Week, which may be just a clever way for the “blockchain week” event to evade government scrutiny. This Dimension Festival Week is hosted by partners, including Litentry, Polygon, Harmony, Flow, Tezos and Mask Network. The event is planned to be broadcast exclusively on Decentraland.

Level change

Driven by the news of the approval of the ETF in the United States, searches on WeChat containing the keyword “bitcoin” soared to nearly 26 million times on October 15. Since midsummer, the crackdown by regulators has caused widespread concern about the asset, a level of concern that has never appeared before.

The transaction volume tells an interesting story because OKEx has recently rebounded. According to FTX data, it has become the clear second place after Binance with a total market share of approximately 11%. Global volume monitor. Huobi, which announced that it will restrict Chinese users from using the platform at the end of 2021, has been struggling to keep up with OKEx, and has now fallen behind FTX to fourth place, only leading ByBit by billions of dollars a day.

Huobi dominated the CeFi space from 2014 to 2016, where it enjoyed a longer period of time as the exchange with the largest transaction volume. Now, a new wave of CeFi exchanges led by FTX and ByBit is beginning to erode the dominance of traditional CeFi leaders Huobi, Binance, and OKEx (collectively referred to as HBO).

Catch the NFT trend

These days, many large companies are giving up their NFTs, including e-commerce giant JD.com.Retailers who have their own blockchain are freed A set of seven NFT models was launched through its WeChat applet later this year.

Last week, logistics company DHL also Announce NFT launched on the VeChain mainnet. These NFTs are becoming a way to reward customers, but according to strict policies, these NFTs are unlikely to eventually appear on the open market and expose many users to the larger cryptocurrency ecosystem.

DHL uses VeChain’s ToolChain to create these NFTs for its retail users. Source: DHL

Lose to the U.S.

The announcement on the website of the National Development and Reform Commission stated that the United States has now replaced China as the world’s largest Bitcoin mining country. This short article stated that this transition took place only two months after Beijing ruled that cryptocurrency mining was illegal.

It is not clear whether this article is intended to be taken literally or as a very subtle but ironic reminder that recent political decisions may not be in the best interest of the country.



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