Technology Life is one of the oldest magazines in China. The magazine says that from next year it will start accepting bitcoin subscription payments. Technology life becomes the first media organization in this republic to take such a bold move.
A close outlook into the matter
The latest development is a clear sign that indeed Bitcoin has scaled higher in terms of becoming a legitimate exchange of value. This cryptographic digital currency has grown quite popular over the years and one distinguishing attribute about it is the high number of nodes within its network.
Technology life says that it had led the way and thus individuals need to follow suit. Similarly, they should start embracing Bitcoin as payment mechanism. The media organization believes that by targeting the tech-savvy subscribers it will succeed on its quest to expand its subscription base.
Technology life is calling upon the investors and fans of cryptocurrencies to embrace their shift in strategy. These investors and fans will receive top quality services according to the media organization. It has come up with a new policy which it says will make it possible for users that subscribe to Bitcoin to do it at a particular price.
Eventually, the subscription period will elapse by the end of the year and the newspaper makes a promise to users in case the bitcoin prices rise. According to it, the users in question will receive the difference from it.
This newspaper affirms that blockchain technology is the latest application mode of computer technology such as encryption algorithm, consensus mechanism, point-to-point- transmission, and the distributed data storage.
This new network technology will help a lot in areas such as equity crowdfunding, file storage, identity verification, presence proof, social communication, Internet Of Things, securities trading, e-commerce, intellectual property and the smart contracts.
This newspaper’s decision is a monumental one. However, it doesn’t add up why China still remains reluctant to lift the ban in initial copin offerings and digital asset trading. In fact, it was a few days ago that the People’s Bank of China gave out a warning to investors. The bank pointed out to the various risks associated with the wide array of digital currency investments.