Ethereum takes 1st, Bitcoin 13th in new Chinese cryptocurrency ratings.
The confusion around China’s stance on blockchain and cryptocurrencies continues. Last year, China’s ban on cryptocurrencies sent the market spiraling down. Recent developments suggest that China likes blockchain but dislikes cryptocurrencies. However, in another chapter of this ongoing China confusion, China has released ratings of 28 crypto assets.
4/ Detailed scores of the first crypto ratings by CCID Research, China’s Ministry of Industry & Information Technology pic.twitter.com/7LiJIWokge
— cnLedger [Not giving away ETH] (@cnLedger) May 17, 2018
China’s Ministry of Industry and Information Technology released these ratings in a report. As seen in the above list, Ethereum is the Chinese ministries favorite.
For this list, crypto projects were evaluated by the strength of the technology, how applicable that technology could be, and how innovative the technology is. Bitcoin scored highly in innovation, but very low on tech and application.
It is not clear exactly what measurements were used to determine these scores. These ratings are reminiscent of the Weiss crypto ratings which also scored Bitcoin low, giving it a C+. Although the results seem subjective and unclear, it is interesting to see where China’s interests lie.
Jeff discussed this matter in a live stream yesterday. Check it out below.