China is one of the loudest countries against cryptocurrencies, for a long time now; their main topic has been how to prevent bitcoin mining. But when it comes to Non-Fungible Tokens (NFT), there’s another story. China has great interest and great potential to introduce and improve its NFS system using its Blockchain technology.

China is rapidly developing its state platform that will allow tokenized digital collectibles, but crypto will not be allowed on that platform. This is great news, in the first place because now, for the first time, the Chinese government is behind the whole project.

The very fact that the Chinese government has supported this project is a big thing in terms of security because China is currently considered the safest country to invest in. China has done a lot to become a really safe country for investment, which is their biggest asset compared to the West, which is less and less considered safe for investment.

The Blockchain Services Network in China will be licensed to run the entire NFT-style collectibles project but nothing will be allowed to be done without absolute control by the Chinese government and its experts. China generally has nothing against digital currencies but does not want to ruin its reputation as a state governed by the rule of law at any cost, so the state simply has to control the whole project in order to maintain a sense of security.

To secure the entire network, the Chinese government will not allow public blockchain networks such as Ethereum or Solana to be used for payment, and cryptocurrencies will not be allowed. Instead, only the Chinese Yuan will be used as a means of payment.

This project will use the name "Distributed Digital Certificate" to establish its unique state-supported brand. In this way, it will be different from the others and it will be known exactly which project is supported by the Chinese government. The plan is for the platform to be launched at the end of next month. If this project is successful, it will send the most positive message possible to everyone around the world, that China is a safe country to invest in using Blockchain technology.

The non-Fungible Token system has no barriers to being used in China, only it must not be tied to cryptocurrencies and it must not use cryptocurrencies as a means of payment, Chinese officials said.

China has made a lot of progress in every sense in the last 25 years. China is now the strongest economy in the world and is unstoppably moving towards even greater development and prosperity. This success is largely due to the Chinese government, which carefully controls the financial system in China and does not allow large-scale frauds to occur in their economy.

This move has created great trust in China as a country, and thanks to that, more and more investors are going to China to invest their money. China simply does not allow anyone to ruin its good reputation.

Our team working on the GAMB platform for efficient and secure trading can help you a lot in business wherever you are in the world.

Especially the use in day to day e-commerce and living expenses is a major issue but there are solutions already around:

One of them could be GAMB, a project offering crypto payments without any blockchain-related transaction fees for day-to-day direct and e-commerce purchases as well as smaller transactions. More details of this solution can be seen under this link here: GAMB Marketplace