Blockchain 10x More Valuable than the Internet, says Chinese State TV

Chinese State TV

China Central Television (CCTV) the country’s premier state broadcaster, said in a broadcast show that the economic value of blockchain is “10 times more than that of the internet.”

In a segment aired Sunday via the station’s Finance Channel and entitled “Dialogue”, host Chen Weihong featured an hour-long discussion that was dedicated to educating the station’s audience base on blockchain technology.

The show also featured several prominent personalities from the blockchain industry, both the private and public sectors, which included Don Tapscott, author of “Blockchain Revolution.”

more speakers included the CEO of Xunlei, Chen Lei and Physics professor and Danhua Capital founder Zhang Shoucheng.

Notably, after Tapscott and Chen started the discussion with an explanation of the basic concepts of blockchain tec, the host suggested that blockchain is the second phase of the internet and has an economic value 10 times greater than the internet.

Zhang commented that :

“While the real value of the internet is aggregating individual pieces of information into one place, which is exactly what Google and Facebook does, we are now entering an era where information is being decentralized so that individuals can own their individual data. And that’s the real value of blockchain that makes it exciting.”

It wasn’t all sunshine and rainbows, however, as the program also had some criticisms of the technology and the topic of ICOs did not escape being put under a microscope.

By summarizing the usual marketing slogans and marketing tactics used by potentially fraudulent ICOs , the program again signaled to its audience the stations, and by extension, the governments continuing efforts to scrutinize cryptocurrency projects in China.

Just a week ago, CCTV attacked domestic token sales activities, saying they were still “rampant” despite an ongoing ban on ICOs in China.

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