Although Chinese regulators have doubled-down on their efforts to curb the maturation of the local crypto economy, state-owned media recently shilled the bible of the cryptocurrency world — Andreas Antonopoulos’ “Mastering Bitcoin.”
“Mastering Bitcoin” Airs In China With Sanitized Title
When it comes to Bitcoin proponents, there isn’t anyone as prominent, knowledgeable, and likable as Andreas M. Antonopoulos, a former cybersecurity expert turned cryptocurrency fanatic. Antonopoulos, who has become the de-facto face (and hair) of the crypto world, is arguably most well-known for “Mastering Bitcoin: Unlocking Digital Currencies,” a book about all things Bitcoin authored by the technology guru.
Citing media posted on Tencent Video, CnLedger, an in-China crypto and blockchain source, claimed that Antonopoulos’ book was aired on the government-run China Central Television (CCTV) to a “national wide audience.”
.@aantonop 's "Mastering Bitcoin" was recommended on China's official TV channel today to national wide audience. However, the book title in the Chinese version was changed to "Blockchain: The Path Towards Digitized Assets". No #Bitcoin mentioned at all!https://t.co/NjtizGipeT pic.twitter.com/a16i2dI5tb
— cnLedger (@cnLedger) October 25, 2018
Although the show hosts spoke highly of the Bitcoin primer, CCTV, staying congruent with China’s regulatory stance on crypto assets had altered the title, likely without Andreas’ permission. The title, which was obviously presented in hanzi (Chinese characters), roughly translates to “Blockchain: The Path Towards Digitized Assets” — or at least according to CnLedger anyway.
This move accentuates the local government’s move to stray away from adopting cryptocurrencies, while still accepting blockchain technologies with open arms — which Andreas sees as a misguided practice, as clearly seen in his Youtube piece titled “Blockchain, Not Bitcoin.”
Likely catalyzed by the appearance of CnLedger’s tweet on the topic, Andreas himself, likely shocked by this unexpected occurrence, eventually took to Twitter to express his thoughts on the “cool” situation.
How cool is this: "Mastering Bitcoin 1Ed", on Chinese national TV. Even with a slightly sanitized title (no mention of Bitcoin), the content is the same.
Hoping to visiting China next year. Maybe this brings more opportunities and conference invitations. https://t.co/SHOBoaiF9a
— Andreas M. Antonopoulos (@aantonop) October 25, 2018
The prominent Bitcoin expert pointed out that even though the title was “sanitized” for Chinese consumption, the content in-book, which outlines Bitcoin and the technology backing the decentralized network, remains the same. Seeming excited by this development, which could catapult crypto (or at least blockchain) adoption in the nation, Antonopoulos then added that he is “hoping to visit China next year,” with his trip likely being purposed to spread the good name of Bitcoin.
Shenzhen Court Rules In Favor Of Bitcoin
While the book’s appearance on national television likely turned some heads, following hot on the heels of the “Mastering Bitcoin” cameo, CnLedger, the aforementioned local source, made a surprising announcement for his/her/their 75,900 Twitter followers.
The source claimed that members of the Shenzhen Court of International Arbitration, located in one of China’s special economic zones (SEZ), moderated a case pertaining to cryptocurrencies and their legality.
Citing a document posted on WeChat, China’s one-stop shop for internet users, CnLedger claimed that the court’s verdict indicates that Chinese law permits consumers to transact and own Bitcoin. The local source added that the Shenzhen body has ruled Bitcoin legal due to its inherent nature as “property” and its “economic value.”
In short, the bullish ruling vindicates Bitcoin’s use in day-to-day transactions.
The lawyers overseeing this case went on to acknowledge that the use of BTC “can bring economic benefits to parties,” and as such, the asset shouldn’t be invalidated in bona fide transactions and legitimate use cases.
However, it is important to note that this case underwent proceedings in an SEZ, as aforementioned, which may have skewed the results of the case in favor of crypto assets.
Still, this unexpected ruling from Shenzhen’s International Arbitration Court indicates that hope isn’t lost for local Bitcoin devotees.