China has announced new regulation aimed at censoring blockchain related projects. The new regulation will help the Chinese Government to have better control of any blockchain project, website or app and have the laws needed to request information whenever they desire. This new increased censorship is trying to gain control of a decentralized technology, yet I truly believe the regulation increases the desire for the technology. I believe the 24 articles of regulation will anger many top developers, consumers and entrepreneurs and provide additional motivation to create decentralized applications.
The government loves control and continued regulation will ultimately work against itself, pushing successful projects to other countries and limiting innovation. Regulation always hinders entrepreneurs’ creativity. I hope the continued push for control by the Government of China will increase the desire for decentralization and ultimately lead to the transitioning of communism to a more democratic society. You can read more details about the censorship from many top websites today to learn specifics and the regulation will start in February.