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You can watch this video here: • DELOITTE: CHINA WANTS TO USE BLOCKCHAIN AS... DELOITTE: CHINA WANTS TO USE BLOCKCHAIN AS ‘STRATEGIC WEAPON’ As much as 73% of Chinese enterprises believe that blockchain is a top-five strategic priority, according to a report by Big Four audit and consulting firm Deloitte released in recent days. In the report, titled “Deloitte’s 2019 Global Blockchain Survey,” the company surveyed close to 1400 enterprise representatives in 11 countries, including 200 people in China to provide a greater knowledge about major attitudes and investments in blockchain as a technology. While China has been among anti-crypto countries, having banned both initial coin offerings and bitcoin -to-fiat exchanges in late 2017, the country has been actively disrupting the underlying technology of crypto. G20 leaders have reaffirmed their stance towards cryptocurrencies in a communiqué following the G20 Summit in Osaka on June 29 of this year. In the declaration, the G20 leaders state that cryptocurrencies do not currently constitute a threat to monetary stability, and that technological innovation can deliver significant benefit to the economy. In the past week a single investor on Bitfinex placed a 20,000 bitcoin short order, betting more than $200 million that the bitcoin price would go down in the near term. Overnight, the bitcoin price fell from $11,900 to $10,765 as the valuation of the crypto market dropped by well over $20 billion within a span of hours. The swift 8.5 percent drop of bitcoin in the last 24 hours was primarily caused by technical factors; an investor placed a large short contract which then led many retail investors to panic sell and bring down the market. BitMEX, a bitcoin derivatives exchange, has gone past $1 trillion in annual trading volume. It comes as bitcoin futures trading volumes explode to record highs on the Chicago Mercantile Exchange platform. Demand for bitcoin derivatives, which gives users the ability to open up long and short positions on bitcoin’s price movement, is booming. BitMEX is popular for its high-leverage margin trading. Users can execute 100x leveraged trades on bitcoin futures and perpetual swaps. One of the key selling points of blockchain and its applications is that cryptographically secured distributed ledgers are virtually “unbreakable” under normal circumstances, given the current state of computational technology. Its validity, however, is heavily dependent on the “state of technology” assumption. Should a huge shift in computing occur, our current blockchain-based systems may become vulnerable to threats not accounted for in their design. But how urgent is the threat of this happening any time soon? Let’s start the show! ======================================================== INSTANTLY TWEET THIS EPISODE, CLICK HERE: https://ctt.ac/48cco ======================================================== WANT MORE INFO? CHECK THESE LINKS OUT For more on China and cryptocurrency: • NEXT BIG WAVE: Why Bitcoin is HOT in China • China’s Crypto Ban | Facts You Need to Know -------------------------------------------------------------------------------- FOLLOW US ON Insta: / cryptognt Twitter: / cryptognt Reddit: / cryptognt Telegram: https://t.me/CryptoGlobalNewsTeam Youtube: / cryptoglobal. . Thanks for watching this video and your ongoing support! We totally appreciate you! #cryptoglobalnewsteam #cryptocurrencynews #breakingnews #GlobalCryptoNewsTeam