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Bitcoin is built on a distributed digital record called a blockchain. As the name implies, blockchain is a linked body of data, made up of units called blocks that contain information about each and every transaction, including date and time, total value, buyer and seller, and a unique identifying code for each exchange. Entries are strung together in chronological order, creating a digital chain of blocks. βOnce a block is added to the blockchain, it becomes accessible to anyone who wishes to view it, acting as a public ledger of cryptocurrency transactions,β says Stacey Harris, consultant for Pelicoin, a network of cryptocurrency ATMs. Blockchain is decentralized, which means itβs not controlled by any one organization. βItβs like a Google Doc that anyone can work on,β says Buchi Okoro, CEO and co-founder of African cryptocurrency exchange Quidax. βNobody owns it, but anyone who has a link can contribute to it. And as different people update it, your copy also gets updated.β
Chinaβs stock markets are some of the largest in the world, with total market capitalization reaching RMB 79 trillion (US$12.2 trillion) in 2020. Chinaβs stock markets are seen as a crucial tool for driving economic growth, in particular for financing the countryβs rapidly growing high-tech sectors.Although traditionally closed off to overseas investors, Chinaβs financial markets have gradually been loosening restrictions over the past couple of decades. At the same time, reforms have sought to make it easier for Chinese companies to list on onshore stock exchanges, and new programs have been launched in attempts to lure some of Chinaβs most coveted overseas-listed companies back to the country.
