Creation of Southeast Asian Investment Bank. What can Happen to Bitcoin’s Value?.

This is a new international financial institution with which the Asian giant intends to gain more influence in the region, this bank is already formed, it is made up of 21 countries, it already has an authorized Capital of $ 100,000 million and of $ 50,000,000 subscribed. The main function will be the financing of infrastructure projects of the participating countries, works that can not be assumed by the governments alone, all of the above is of great importance for the developing countries.

As it is known the seat of the bank works in Beijing. This institution operates with a philosophy similar to the World Bank or the Asian Development Bank. What makes clear is that China as the second world economic power, has been asking the World Bank for more years, but these old institutions continue to be influenced by the United States. As it is known, the Asian Development Bank is led by Japan, the US, China is in third place without much influence, so it is promoting this new infrastructure financing body, which is the Asian Bank for Infrastructure Investment.

As it is known, some of the countries participating in the new lender are India, which also demands more prominence in traditional institutions, Singapore, Vietnam, Philippines, Mongolia, Malaysia and Thailand. With this commitment, China is aiming for another goal in its race to gain weight internationally. This is not the first of this year. Together with Russia, India, Brazil and South Africa, the BRICS also agreed to establish a similar institution, the New Development Bank (NDB), which was born to address the infrastructure deficit in these countries and Is headquartered in Shanghai, China.

Therefore, there is already a financial infrastructure at the service of the countries that aspire to find its development in some of these countries it is already evident the change of philosophy that has with respect to the technology Blockchain-Bitcoin, in the course of 2 years Concept tests have already been carried out, which tend to provide service between financial institutions in different countries in the Euro-Asia zone.

As is known at the moment Russia is conducting research, with Blockchain Ethereum technology, that even Russian President Putin held a meeting with Vitalik Buterin, developer and creator of this technology the meeting was given at the International Economic Forum of St. Petersburg 2017, that is to say that there is already a profound change towards this new efficient way to provide a service to the users, it is possible to see that there are great possibilities for cryptocurrency.

On the other hand, China will use the blockchain to send invoices to citizens to pay their taxes. The news is presented in a very promising way, the country has been working on the implementation of the blockchain and implement it in everyday life, reports Futurism, these reports suggest that China is leading the way with advances in technology. Therefore, if the digital currency that gives power to this blockchain is bitcoin, the price of cryptocurrency is expected to continue to rise.

On the other hand, taking into account the following, with a Chinese economy, the largest in the world with a GDP of 2016 of more than 70 trillion RMB, or about US $ 10.4 trillion, this could catapult the country into the future , Given the importance that China attributes to it, to the new technologies of blockchain-bitcoin.

In summary, the growth prospects of the Asian markets, with China as the giant engine of the economy, it is quite possible that the technology that revolutionizes the world as it is Blockchain will have a place and point of support for the development of the new emerging economies. New ads are expected.

Reference: economia.elpais.com

Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and/or services. This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest.

You may also like...