New ‘Blockchain Village’ in China’s Wenzhou Residents

By Anne W. | March 12, 2019
New ‘Blockchain Village’ in China's Wenzhou Residents

A Chinese village located in the Wenzhou Zhejiang region, called Yuedong, has recently drawn the attention of media in terms of digital currencies and blockchain technology adoption.

The local Lylian Teng spoke with a villager, surnamed Lin and found out about the story why a village embraces cryptocurrencies. Lin explained that this was the birthplace of an individual named Yang Linke, who was the co-founder of China’s first bitcoin exchange Btcchina. Yang Linke has managed to convince many people in his village to adopt cryptocurrency as he does.

The village of Yuedong is quite famous for several crypto-related sightseeings such as a river having crypto-related logos etched into the stone.

Lylian Teng has found out that 60 or 70 percent of the villagers in Yuedong know about blockchain technology or have invested in digital assets. Additionally, 10 percent of the citizens living in Wenzhou region have already helped to develop the blockchain technology.

Speaking about his town, Yang Linke wrote on Weibo, a Chinese social media platform: “Things that can be seen in Silicon Valley, but they appear in our remote mountain village. We Wenzhou people dare to be the first in the world.”

Another attraction about this “Crypto Village” is that guardrails have around 10 different cryptocurrencies carved into the stone such as Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Binance Coin (BNB) and Ontology (ONT). This guardrails is a 1,000-metre long stone embankment carving and were performed by enthusiasts in the town.

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