China’s NIFA Blockchain Head is Confident Cryptocurrencies Will Survive And Thrive

Umme Haani
Umme Haani is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.
  • Blockchain Research Head At China’s NIFA Is Confident Cryptocurrencies Will Survive And Develop 
  • Li Lihui, Blockchain research team head at China’s NIFA stated that the cryptocurrency besides surviving, will develop as well. 
  • According to the NIFA Blockchain research head, only a few cryptocurrencies are probable to witness an expansion in their domain.
  • Liuhi mentions the possibility of blockchain-technology and cryptocurrency fitting in the scenarios of popular transactions, in the future. 

Li Lihui, Blockchain research team head at the China’s National Internet Finance Association has reportedly stated his views on cryptocurrency. Lihui was heard saying that the cryptocurrency will survive and as well as develop despite what the economic factors otherwise reveal. This came to light on May 5 through the live streaming held by people.cn. Lihui, besides leading the blockchain research team at NIFA, is the former president of the Bank of China

Only few cryptos probable to experience their domain expansion: Li Lihui

Lihui however mentions that most of the cryptocurrencies might yet not break through and will perform only to little extents. According to the NIFA Blockchain research head, only a few cryptocurrencies are probable to witness an expansion in their network space. It appears through the above statement he is referring to those coins that own high withstanding power. Because ultimately only the cryptocurrencies that are true in their potency to outperform will stick out. But regardless, we can still agree to the point that each cryptocurrency veils its own struggle in performing the best. 

Future Possibility

Liuhi mentions the possibility of blockchain technology and the cryptocurrency fitting in the scenarios of widely known transactions and payments. In the near future, however. Also provided that they meet certain requirements regarding the same. Firstly, the underlying innovation of the blockchain-tech on which the virtual currencies rely must overcome the obstruction of wide-scale applications. Secondly, the cryptocurrency operating mechanism should renovate itself in a way it can provide solutions to the problems of value stability. 

On a concluding note 

The Former President of Bank of China sounds confident with respect to the development of cryptocurrency. It seems like he is nowhere let down by the probability of cryptocurrency being shunned due to any factor. Also, his emphasis on the future possibility adds to much more relevance. It is clear he seeks the wider acceptance of the innovative technology in the near future. Views such as his sure uplift hopes in the crypto users who often find themselves in dilemma. 

Partners