Blockchain Needs Regulation, Chinese State Media Says

"People's Daily" is the the official publication of the Communist Party of China
26 February 2018   351

The official publication of the Communist Party of China "People's Daily" called for toughening regulation of the blockchain industry with a view to fostering its further growth. This is reported by CoinDesk.

In a paper published today, February 26, entitled "Three questions to blockchain," the publication expressed total support for government policies aimed at supporting new technologies. At the same time, the party's mouthpiece warned of the growing risks associated with certain areas of application of distributed registry technology.

Blockchain technology is still very immature. We must be cautious about speculation on this concept and separate technology-based innovations from those with a fund-raising purpose. In order to better promote and utilize the blockchain technology, the government should implement strengthened policies and regulations.

People's Daily

The article also provides an overview of the main areas of application of distributed registry technology, including financial services, charity, protection from counterfeits, and so on.

Most of the current blockchain hype is focusing on fundraising and speculation instead of genuinely solving real-world problems with the blockchain technology. 

Hu Danqing

Technology product specialist,  Alibaba's Ant Financial Service

He also noted that the country's authorities should develop legal norms to effectively distinguish technological innovations from simple fundraising. to Mine for Charity

According to the calculations, if 10k computers will run the minning screensaver for 12 hours a day, the charity fund will receive $10k monthly
18 July 2018   104

Social platform for petitions announced the launch of a screensaver that mines Monero on users' computers. All tokens will be transferred to the charity fund of This is reported by Coindesk.

This initiative was launched in partnership with the marketing agency Tracelocke Brazil.

Representatives of report that the screensaver will consume resources only when users do not use the computer. According to their calculations, if 10 thousand computers will run the screensaver for 12 hours a day, the charity fund will be transferred $ 10 thousand monthly.

At the moment the program is available only for Windows users and the platform did not report on the release plans for the version for macOS.

Note that at the end of April, a similar action was launched by the Australian unit of the United Nations International Children's Emergency Fund; (UNICEF). The website "Page of Hope" mines Monero cryptocurrency.