China To Launch National Blockchain Platform Next Week

Plus bitcoins held on exchanges hit their lowest level since last June

Happy Wednesday, Blockfolians

The Lede

Yes, yes. Yesterday’s Lede was about China as well, but honestly, it’s hard to ignore them right now. Next week, the Blockchain-based Service Network (BSN) will launch. The initiative is designed to help companies launch blockchain-based applications more inexpensively and quickly.

From Banking Giants to Tech Darlings, China Reveals Over 500 ...

CoinDesk’s Joon Ian Wong sums it up nicely - “not just an innovation toy”:

No matter what one things of China at the moment, it is clear that they are trying to put their stamp on the blockchain and digital currency space.

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Highly Relevant Reading

Community Commentary

BlockFi CEO Zac Prince writes what has to be one of the best tweets of the year
Although Kraken founder and CEO Jesse Powell might have him beat…

A Really Big Number We Should Be Paying Attention To 


That’s the number of bitcoins currently held on exchange addresses - the lowest level since last June and more than 8% down since the high in January. Data company Glassnode argues its more hodling behavior in advance of the halving.

Final Thought

A picture worth a thousand words.