China’s hard stance on cryptocurrencies might change soon with the Chinese cryptocurrency pushing ways to show the good side of the digital coins. One such way if by a documentary called ‘Bitcoin Girl’ which shows a young woman by her online name of ‘He Youbing’ who travels around China with only 0.21 Bitcoins in her digital wallet.
He Youbing is a woman known to be a major cryptocurrency enthusiast thus the nickname which translates to ‘having a disease’ in response to her love for cryptocurrency.
The documentary is produced by ‘Team 1234’ which is an independent group of filmmakers and is streamed in iQiyi which is the Chinese Netflix.
He Youbing found it difficult to survive with only Bitcoins and had even been hospitalised. However, this led to many understanding about the digital coins and messaging her on WeChat for online transactions of her Bitcoin in exchange for Fiat for her to survive.
The woman in the documentary found some places which accepted Bitcoin and even encouraged a yoga teacher to buy Bitcoin from her in exchange for Fiat. He Youbing is seen speaking to strangers and owners of shops about the use of Bitcoin which shows that many don’t know about cryptocurrency yet.
The documentary has become a major hit amongst the Chinese and helps in showing the bigger picture of digital tokens. China currently has banned cryptocurrency trading along with it being used as a payment solution.
China however encourages the technology behind cryptocurrencies which is Blockchain. Blockchain is creating a wave of problems being solved thanks to its decentralised nature.
What seems interesting is a tweet by Twitter user ‘H’ who clarifies that China is favouring a cashless society with services such as Alipay and WeChat. Hence it will be interesting to see what the future holds for cryptocurrencies in the world’s most populous country!
China is the last country needs crytpo payment as it is almost cashless already with Alipay and weChat pay. Unless to convince people bitcoin is the store of value. ?
— H (@hollyxu) September 20, 2018