It is known that the first country to ban bitcoin and cryptocurrency leading to deepening of the market then was People's Republic of China (PRC). Again as it appears, the PRC is now the first country/government to publish an official government cryptocurrency rankings for the public.
Three filters were used to judge coins by the agency in charge - China Center for Information Industry Development (CCID) which are;
- Innovation
- Technology
-Application
However, to the dismay of many bitcoin core enthusiasts, the king of crypto BTC did not even make the top ten ranking and bitcoin cash (BCH) nearly lost out in the ranking. However, ethereum and our very own steem made the number 1 & 2 top positions which goes to show the recognition steem is having even amongst countries like China.
In an article posted in Bitcoin news, by C. Edward Kelso, titled...
"China Lists Ethereum as Best in Crypto Class" Followed by Steem...
In what is either widely being referred to as a case of communist schizophrenia or a passive nod to the inevitable financial future, the PRC’s CCID released its first set of cryptocurrency rankings. China, of course, outright banned crypto in all its various forms, and the broader market was thought to have plummeted for a time as a result. That it is now publishing coin rankings is confusing to many observers.
CN Ledger, a popular Twitter handle, was the first to expose the rankings to the outside world. Its author, Eric Zhao, explained how “most old-school experts haven’t followed the crypto space long enough to grasp some of the traits of tech and community that can’t be found elsewhere.”
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If you look at the ranking, you find out that Steems innovative technology although currently undervalued is gaining recognition even in countries that are least friendly to cryptocurrency. This goes to show that there are great things ahead and the future is bright for those who are wise enough to keep powering up steem.
My question is, do you agree with China in this rating or do you feel steem place as number 2 is overbloated. Send in your thoughts in the comment below. Feel free to re-steem to encourage someone and follow for more. If you like this post, kindly give me an upvote.
Do ensure you keep steeming hot as I wish you a lovely successful week ahead.