Justin Sun Reacts to His Banned Weibo Account
A couple of days ago, the Weibo account of the CEO of Tron (TRX), Justin Sun was reportedly banned by the Chinese government, which became a trending topic in the crypto community. There were more questions on the reason behind the ban on his account.
For those with little knowledge about Weibo. According to Wikipedia, Weibo is a Chinese microblogging platform launched by Sina Corporation on 14th August 2009.
The social platform, Weibo is clearly China-centric. As of Q3 of 2018, the Weibo boasts of over 445 million monthly active users, which could have presently substantiated beyond the aforementioned estimation.
When Sun’s account was banned and deleted, many cryptocurrency enthusiasts believed it was banned because the account is crypto-related. However, Tron’s CEO has claimed otherwise.
In his recent tweet written in Chinese and meant to clear the air about the situation, Sun claimed that the banned Weibo account is not majorly for crypto-related activities, but for gaggling and fun.
He said, “My personal Weibo is only used for gagging. Occasionally, when I see hot spots, I yell and everyone laughs. I often transfer Alipay QR codes to everyone to realize several dreams. In short, the purpose is simple and the behavior is simple. It is a channel for venting the emotional crisis of middle-aged men in their twenties. It is completely related to the wave field and has nothing to do with the entire blockchain industry. The media does not have to over-interpret policies and influences.”
In response to the plight of Justin Sun and his project in China, the Co-founder of iAmDecentralized.org and CCO at BeatzCoin, Misha Lederman stressed on how blockchain is decentralized and suitable for everyone.
He said, “The truth. Blockchain is suitable for everyone, and this restrictive policy against uncertain domestic regulations will not hinder our goal: the path to personal freedom and financial independence through a new decentralized network.”
Meanwhile, the Weibo account of Binance CEO, Changpeng Zhao, popularly k nown as CZ experienced the same fate such as his contemporary in the blockchain and cryptocurrency industry, Justin Sun.
China’s Interest and Disinterest in Blockchain-Powered Cryptocurrency
To be frank, there is probably a campaign against cryptocurrency and any activity related to it in China, the most populous country in the world at the moment.
It is envisaged that the scrutiny of cryptocurrency-related activities by the Chinese government is strategically targeted at clearing the way for its underway digital form (DCEP) of its national currency Yuan.
When China officially embraced blockchain technology a few months ago, it went viral that such a nod will spread to favor the cryptocurrency-powered by the nascent technology, blockchain. Howbeit, it was later reported that the adoption is limited to blockchain technology, with no clause for the full support of any digital currency.
China is densely populated. At the same time, the majority of the Bitcoin hardware is made and operated in the country, which makes the region the abode of most Bitcoin miners.
This implies that the impact of China regarding the growth of the first and the largest cryptocurrency, Bitcoin cannot be thrown underfoot. The population of the country is a big factor to consider.