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Blockchain Scam Hype in China

There has been a stir over the blockchain theme in China since President Xi Jinping endorsed the technology.

In connection with this fact, there are more and more cases of scam:

Of the 32,000 companies that claim to use blockchain technology, less than 10% truly do so.

Several exchanges have already listed DCEP (digital currency electronic payment) pairs for trading, despite the fact that the technology is still under development.

The “DCEP Download” query in Baidu yields about 516,000 results.

It is worth noting that the country began an active struggle against such incidents. The media has already made several statements that they will investigate crypto exchanges and a crackdown on crypto scams, illegal fundraising, ICOs, air coins, etc.