China Life in China News Tech News

How to get tech & digital news about China ?

In order to understand the rapid change of China and catch up with what’s going on, you have several tricks and readings you should get used to! In fact, newspapers and pure players have increased a lot in the PRC as the country experienced a huge growth in the past 30 years. Chinese and foreigners living in China want to have access to media with relevant and trustworthy information. What is very interesting to see is that media follows the Chinese trend of m-commerce. They are for most of them fully accessible online and on smartphones. Even though not all of them have an app they still are accessible in mobile phones and this can be simply answered by WeChat.The giant Tencent has such power that pure players and businesses must have a WeChat account, where users can subscribe to their page. This actions lead to a kind of newsletter where you normally use your e-mail address to register. However, in that case you’re using your WeChat account and you will directly receive, from the accounts you subscribed, any of their publications into the messaging app. The aim of this article is to get to know the newspapers you should read daily to quickly understand the rapid growth of China. In addition to that we will focus on Chinese tech media’s that bring up to light amazing innovations and new technologies that influence the world.National NewspaperCHINA DAILY

China Daily is a big company that was founded on June 1981. The newspaper is well-known and recognized in the world. It publishes English-language newspapers in China mostly for foreigners but also for Chinese to improve their English. Moreover, the company has branches in major foreign cities such as Hong Kong, London and Washington D.C. The newspaper is therefore published in many countries of the world and distributed to universities, think thanks, embassies, governments, hotels, etc…
China Daily is also a very strong as digital media, its website was launched in 1995. Thanks to his early presence and the quality of his content it has become China’s most influential English-language web media.

“China Daily website is China’s first national English-language website” (China Daily, 1995)

Their website is incredibly complete, there are 5 parts written in English concerning U.S, Africa, Europe, Asia and obviously China. In addition to that they have two Chinese-language editions one of them is the traditional news and the second one is called “language tips”. Moreover, what is impressive is that they also have a French-language section dedicated to China.

Their app is well designed and very simple to use. It has different sections such as lifestyle, sports, business, tech all what you need to be aware of the evolution China and its people. They are also not that bad concerning social medias, in Twitter their US Page @ChinaDailyUSA. has almost 700’000 followers. They are also managing two other accounts one for Asia and one for Europe but have less success.Finally their WeChat account is: RealTimeChina that basically gives you the same access than their app.

GLOBAL TIMES Global times is another very interesting newspaper, it stated in Chinese language in 1993 and published in English for the first time in 2009. An interesting fact is that the two language versions are quite different in their composition. The Chinese one focuses on international matters and the English one reports more on China’s domestic issues. In addition to that they launched two local newspapers: Metro Beijing and Metro Shanghai. Moreover, since 2013 they inaugurated a US edition that published in both languages making them the first to do so.Their Website is good but the design is quite basic. They have a lot of different section with many sub-sections. There is a huge number of very interesting articles with good sources and will definitely be a great help to see the evolution of China. They are also trying to boost their Social Media with a Twitter page of over 197K of followers and around 55,3K tweets beating China Daily. Concerning their app, I would say that is not bad neither a bit simple but the content is there. There is even the possibility of downloading the e-Newspaper, you can search for any key word and ad articles to your favorites. Finally, their WeChat account is: GlobalTimesNews is the official one for the English language. Pure Players & Tech MediaJING DAILY Launched in 2009, Jing Daily is the leading digital publication on luxury consumer trends in China. China has a complex and rapidly evolving luxury industry and in order for professional to understand what’s going on they should be used to read Jing Daily. Fresh and accurate insights are published on daily basis with key trend reports, figures from leading industries and in-depth analysis. Their website has a good design very pure and the user experience is very of a high quality and convenient. There are 6 main categories: Industry Sectors, Market Trends, Creative, Jing Travel, Tech, Reports. All of them with a lot of articles providing good support for research and development. They publish on daily basis on each of the sections with the most accurate analysis that you may find concerning the Chinese luxury trends. They are member of the Luxury Society leaded by the Digital Luxury Group proving how good they are. In addition to the tech category is also very useful and provide valuable content on 3 main directions: E-commerce, Mobile and Social Media.Their WeChat account is: Jing_Daily_China but it’s in Chinese language and there is no English version. In addition to that negative point, they do not have an app. Despite, they are fully responsive and adapted to smartphones, Jing Daily should do some investments in either an English version of their WeChat account or develop an App in different languages. CHINA SKINNY China Skinny is different, the company focuses on delivering a full-service marketing. Hence, they are a research and online agency that has proven to be very successful. They help international businesses to enter China, as well as brands already in the market.

China Skinny was founded by Mark Tanner, who is working in the Internet, mobile and marketing industries since the 90s in China, North America, Europe, Africa and Australasia.

They publish a very interesting and renown newsletter and are regularly contacted by international media such as Bloomberg and Reuters for their view on the market.

They have a Website a bit old fashioned for a digital marketing insights agency. However, the information is available in both English and Chinese. They have a quite low Social Media presence for example on Twitter they have not more than 2200 followers. Concerning LinkedIn, they have over 800 followers and Facebook about and a positive point is that they are present in Weibo. Their WeChat account is: thechinaskinny and it’s in English.CHINA INTERNET WATCHChina Internet Watch (CIW) is a digital consulting company based in Singapore. They started in China as marketing blog, after that they expanded to different topics concerning China online marketing. CIW also treats many subjects linked to digital trends and innovations in China.

The relevance of their articles and studies is very high. They share key online insights about China such as Internet statistics, current online trends and marketing strategies. The company focuses exclusively on mainland China, Hong Kong and Taiwan.

CIW work with Incitez China that currently take care of publishing the topics related to the Chinese online Marketing.

You can follow them on FacebookTwitter and even YouTube! Their website proposes you to access free e-books that will help you understand how big digital is in China!TECHNODE TechNode was founded by Dr. Gang Lu a passionate of tech, a geek but more than that a PhD in Wireless Networks. The company is known as the leading tech media covering the latest news on start-up entrepreneurs, industry trends and large companies in China and Asia. TechNode was previously known as and is now the official partner of TechCrunch, that manage TechCrunch China.

They are expert in what happens in China and focuses on social media, mobile, e-commerce and new trends that hear a lot of noise like Big Data and VR/AR. TechNode also organizes monthly events in several cities in China, it also runs a competition called ChinaBang Awards.

Their Website is in English and Chinese and has 4 main sections Home, Podcast, Events and Tips. They are also present in the different social medias, for example on Twitter they have almost 6’300 followers. They have less likes in Facebook as it’s blocked in China and try their best in LinkedIn with almost 400 followers. They developed and app but it’s fully in Chinese and still at their beta version. TechNode has 2 WeChat official accounts, one in EnglishTECHINASIA Tech in Asia is another extremely famous online tech media. They discuss topics about Asia and the US, they are based in Singapore and are made of a big crew of journalists and bloggers. The employees of the company share a common interest in tech and startup news. Their website is divided in 3 main sections: media, events, and jobs. Daily articles are published in the media section with great insights and useful curated content from other sources. Thanks to the event section they do an amazing work offline gathering the finest Asian tech communities. The last section is a real strength they facilitate tech job opportunities which for a media is kind of disruptive, but we like it! The user experience and interface is really good and make the readings more enjoyable. They do a huge work on social medias they have more than 617K likes on Facebook, 130K followers on LinkedIn and 107K on Twitter.Finally, you can download their app that will become shortly one of your principal source of tech information. The App is light and very simple to use, they choose the same design of their website probably to keep a coherence, which makes sense. The format of presentation of the articles is amazing and you can easily share, comment or save at any time. TRY IT ! CHINATECHNEWSAll China Tech China Tech News has been operating since 1999, first as an online forum, then as an email newsletter, and finally as a full-fledged news website! They distinguish from other tech information through the diversity and accuracy of its IT and industry news. The Website publishes daily in English-language articles with reliable and trustworthy sources.All China Tech is a start up media platform founded in 2015. They are base in Beijing and still are a small company with around 10 employees. But they provide interesting insights about China’s IT industry. Follow them on Twitter, Facebook and LinkedIn for more exclusive informations. Don’t forget their WeChat by scanning the QR code!

Bitcoin Blockchain China Cryptocurrency

The rise of the Bitcoin and his situation in China

Bitcoin is a revolutionary technology that facilitate a new way to do payments over the internet. Think of it as an open accounting system where thousands of computers in the world work together to track the ownership of the digital tokens. When you send to someone a bitcoin the transaction is broadcasted to the entire network. When its verified, its recorded in a public ledger called the blockchain. Inside there is the list of every bitcoin transaction that has occurred since the system began. All of this information is shared and maintained on the network so everyone can have the “book”.The peer-to-peer system is not controlled by a central authority. Instead, bitcoins that circulate among users are verified by computers that help to process the transactions in the network, known as bitcoin mining. Those Bitcoin miners are specialized computers that do the work required to verify and record transactions in the blockchain. Thanks to this verification they are rewarded a X amount of bitcoins and this is how new bitcoins are released into circulation. As there are only 21 million bitcoins that will ever exist and that the mining reward decreases as the time goes by. The result tends to be that bitcoin could be a predictable supply governed by scarcity making it somewhat like a digital gold.After reading the first part of this article: “An Introduction to Bitcoin and the history behind it” you must be excited and curious of what you are going to learn now. We previously discussed the origins of Bitcoin but now we want to focus on how it was launched and how did it spread? In addition to that we will have a closer look to the current situation of the money. We will search for important numbers and information concerning the circulation of bitcoins and where in the world the money is gaining the highest popularity. Finally, we will take a closer look of the Chinese behavior towards Bitcoin. Bitcoin Launching & ExpansionIn October 2008, Nakamoto publishes a “peer-to-peer electronic cash system” describing the Bitcoin currency. Among other things, it explains the way it avoids double spending to prevent the currency from being copied. After one month the Bitcoin project is registered on hosting the first software-based online payment system. SourceForge is a community that helps the support, the development and the distribution of open source software and projects. The first block was mined, the 3rd of January 2009, by Satoshi itself. Called the genesis block (block 0) the mining reward was 50 bitcoins. However this reward can’t be spent due to a quirk (Bitcoinwiki, 2017). A few days after Satoshi sends a new mail with a link to the software encouraging people to use it and become part of the Bitcoin community, the version 0.1 is released. During less than a year, his creation only remained between a small group of early adopters. In November 2009, the New Liberty Standard publishes a Bitcoin exchange rate, 1’309,03 BTC = 1 USD.

“Using an equation dividing one dollar by the average amount of electricity to run a computer with high CPU for a year, multiplied by the average cost of electricity in the U.S, divided by 12 month divided by the number of bitcoins generated during one month.” (New Liberty Standard, 2009).

The first bitcoin transaction used for a tangible good took place in Florida. A programmer called Laszlo Hanyecz offered to pay 10,000 Bitcoins for anyone who would order him a pizza. A volunteer in England accepted the challenge and purchased two pizzas from Papa John’s, the exchange rate put the purchase price at around US$25 (Wallace, 2011). Bitcoin was gaining more and more popularity but in order for it to thrive the coins needed to be more widely accessible. In July 2010, a Tokyo based exchange named Mt.Gox was the first on the scene to take hold on the market place. Created by Jed McCaleb the company started its business selling Magic’s cards and then became a platform to exchange bitcoins. As volumes are growing the exchange rate hit 0,50 USD/BTC. During that time everything went much faster and trading volumes started to pick up. On the 28th of January 2011, 25% of all bitcoins have been generated. Shortly after, the bitcoin reached parity with the U.S dollar on the 9th of February. At that point bitcoin is spreading all over the world and starts to be known by a large number of people. Much of the people that are familiar with the virtual money are involved in forums discussing about Bitcoin or new technologies. For example a member of proposed to sell his car in exchange of bitcoins.During the following month WeUseCoins published a viral video with over 6,4 million views making Bitcoin more and more famous.During the year of 2011 the democratization of bitcoins started to grow. Organizations and companies such as Wikileaks, the electronic Frontier Fondation started accepting bitcoin as donations. A French programmer called Mark Karpelès acquired 88% of Mt.Gox and becomes the CEO. Many new markets start to emerge such as Britcoin, Bitcoin Brazil, making possible the exchange of bitcoins into GBP, Brazilian Reals, EUR and other currencies. The 16th of April 2011 Time published an article called “Online Cash Bitcoin Could Challenge Governments, Banks”. The concept of Bitcoin is real, organizations and companies such as Wikileaks, the electronic Frontier Fondation started accepting bitcoin as donations.In June around 6’500’000 bitcoins are in circulation (31%), during this month the price of bitcoins increased to a peak of 31,94 USD. However, 4 days after the rate dropped to nearly 10 USD, the incident is known as the Great Bubble of 2011. Moreover, Mt.Gox is hacked and many accounts have been compromised, forcing the company to drop the price of a bitcoin to 0,01 USD. This gave to many people the chance to discredit the virtual money and many sceptics appeared. In addition to that there is the FBI that is working very hard to close “dark markets” such as Silkroad. Those websites, selling illegal products/services are only accessible in the “dark net”. They only accept bitcoins for payments as it is an untraceable way of paying. Anyone using TOR (The Onion Router) browser can access such websites and surf into the “dark net”. Despite the fact that it can be used for illegal purposes, the software was primarily used for people to surf into the “dark web” anonymously. For example, reporters can leak documents or articles from countries where the censorship is high. In the following month more companies are hacked resulting in more losses.Despite all those events innovations and investments continue to rise. Conferences about Bitcoin are held in New Yok City, Prague and London. Bitpay a global bitcoin payment service provider launches the first smartphone e-wallet for bitcoins. In the end of 2011 the company claims that they have around 100 merchants using their services. By 2012, they have more than 1’000 active merchants (Browdie, 2012). WordPress that we actually use for this blog, is one of the major partnership that Bitpay made. A word press developer called, Andy Skelton said that:

“Some are blocked for political reasons, some because of higher fraud rates, and some for other financial reasons. Whatever the reason, we don’t think an individual blogger from Haiti, Ethiopia, or Kenya should have diminished access to the blogosphere because of payment issues they can’t control. Our goal is to enable people, not block them.” (Farivar, 2012)

In June 2012, the Coinbase is founded. This digital currency wallet and platform allows customers and vendors to transact with new virtual currencies. As the volumes of bitcoins continue to grow the reward of mining decrease to 25 BTC in the end of November.Even though, regular hacks attemps, technical issues and illegal uses of the digital money damage its reputation. The combined value of all the Bitcoins exceled 1 billion USD in March 28th of 2013 (Goddard, 2013). Shortly after, the value of the bitcoin on Mt.gox and other exchanges overpasses 100 USD. However, the money experience again a crash after reaching a peak of 266 USD/BTC caused by hackers. Something important to know is that once you lose your bitcoins there is nothing you can do to get them back. So it is very important to choose a secured e-wallet for your bitcoins.Coindesk is launched in May 2013 by Shakil Khan that was an investor to Spotify. The website is the world leader in news and information about cryptocurrencies. Few days later the first Bitcoin ATM appears. Making possible to buy or send the currency and to withdraw dollars from the bitcoins you have in your possession. Another important event is the seizure of MtGox funds by Homeland Security as the company failed to comply with U.S. financial regulations (Kirk, 2013).Bitcoin is recognized as a “form of private money” by the German Federal Ministry of finance in August 2013. Different ways of spending bitcoins for services and goods pop up, creating new opportunities for businesses. For example, generated 15 million USD after 3 months of running the first casino platform accepting bitcoins. Moreover, the value of the bitcoin is increasing pushing it above of 1’000 USD. During that time the volumes of bitcoins transactions is higher than Western Union. We could even see a University in Cyprus that started accepting bitcoins. Nonetheless Bitcoin is at his best momentum at that period, the Bank of China destabilizes the currency and says that it isn’t a money with a “real meaning”. Resulting in a drop of the value after being banned by China’s Central Bank (Bloomberg, 2013).Bitcoin In ChinaThe people’s Republic of China is a huge country with a population of over 1,3 billion. The country is governed by the Communist Party of China and its capital is Beijing. The state is leaded by Xi Jinping since November 2012 replacing Hu Jintao as General Secretary of the Communist Party. In China censorship has always been applied to content that the government didn’t wanted to make public. The reasons are mainly political but are also due to a control over the populace. Some websites, blogs and information cannot be accessed in China as the state considers them sensitive and as a possible threat The government uses different technological tools designed to block the information from internet, also known as the Great Firewall of China. However, the entry of the Chinese market in 2013 is the driving force behind the Bitcoin’s explosion. This is the reason why we are going to focus on the case of the Chinese Bitcoin acceptance and his behavior over the last 4 years.2013 – 2014Bitcoin started making a lot of noise in China in 2013, when the China Central Television (CCTV) disclosed a 30min documentary dedicated entirely to the subject. Shortly after this exposure, in May, the number of computer programs downloads exceeded any other country. As you can see in the Figure 2, China represents at that time, 28% of the Global Downloads of Bitcoin Client in the world. A rush began, the Chinese tech community started constructing mining platforms on a large scale and investing on computer devices and hardware. In order for bitcoins to survive it needs a big network of users that run the software and that can be accessible by others using mining software. They are also called “bitnodes” they run the Bitcoin core program but don’t earn any reward for it. In other words, they keep the public transaction ledger (Blockchain) for the other users that verifies the transactions in the network.

Bitcoin Blockchain Cryptocurrency Cypherpunk

An introduction to Bitcoin and the history behind it

The Bitcoin is still not known by the majority of people in the world, but has certainly experienced one of the most beautiful histories of mankind.This sort of “information technology” (Scholer, 2015) is quite unbelievable and takes time to understand. To introduce the concept of Bitcoin we must familiarize first with the term of cryptocurrency and take a closer look from where it came from. A group of “crypto-anarchist” so called Cypherpunks brought the term up to light. For them, the world needed to acknowledge that transactions could be made without having to reveal your identity and with no third party having the control of your assets. The term emerges from cryptography that itself comes from encryption and decryption. The figure 1.1 illustrates well these two process that are linked. “You use encryption to ensure that information is hidden from anyone for whom it is not intended, even those who can see the encrypted data” (PGP, 1990). Consequently, the science of using mathematics to encrypt or decrypt data is called cryptography. So if you are following you must have understood that cryptocurrency is a digital asset, a virtual money or either an encrypted system of money. This article will be divided in a series of two publication. The first part, trying to explain what is Bitcoin, where did it came from, what processes does it uses ? However, we will start with where it all begins, going back to cryptography and the Cypherpunk movement. In the second article we will find out how did it spread so quickly, it’s repartition over the world and identify the places where this controversial money is “created”. In addition to that, we will focus on Bitcoin in China and try to get the latest news of this subject in a particular country where privacy has always been at the centre of the attention. And finally, I will give my personal point of view and carry some questions that may not have been answered yet.How did it all started ?#1 CryptographyTo clarify the meaning of cryptography you must learn first what is encryption. It’s simply a process that convert messages, information, or data into a form unreadable by anyone except the intended receiver. Encrypted data must be deciphered (decrypted), before it can be read by the recipient. Originally the word encryption, “crypt”, comes from the Greek word “kryptos”, meaning hidden or secret (SANS Institute InfoSec, 2001).The history of the world is full of cryptography and its first acknowledge appears to be around 1900 BC when Khan listed a non-standard hieroglyph from an Egyptian scribe. Julius Caesar (100-44 BC) used it also to hide his message from the messengers. The cipher was quite simple, a shift by 3 letters in the normal alphabet for all the letters of the message. Thusly the trusted receiver could read it as he knew the rule to deciphered the information. In 1518, Polygraphiae, the first printed book on cryptology was published by Johannes Trithemius (SANS Institute InfoSec, 2001).During the World War I and the World War II the importance of cryptanalysis, the art of breaking cryptosystems, was high. It was a way to anticipate the moves of the enemy but you also had to have a good cipher to not be discovered back.In the movie The Imitation Game (2014) realized by Morten Tyldum, we discover how Alan Turing a real-life British, decrypted German intelligence codes (Enigma) for the British government during World War II. Making a big difference in the war against the Nazis. This is how cryptology, the study of cryptography and cryptanalysis, continued to evolve rapidly. “New Directions in Cryptography” was published in 1976 by Whitfield Diffie and Martin Hellman, introducing the idea of a public key cryptography. They closed their paper with an observation: “Skill in production cryptanalysis has always been heavily on the side of the professionals, but innovation, particularly in the design of new types of cryptographic systems, has come primarily from amateurs.” (Diffie & Hellman, 1976).In 1991 Phil Zimmermann released his first version of PGP (Pretty Good Privacy) in response to the threat of the FBI. PGP is a free software tool, that enables people to communicate securely, even across insecure channels. It can attain this using the public-key cryptography technology and offer a considerable high security to the ordinary citizen (Wojtczak, 2012). In his article “Cryptography for the Internet” Mr. Zimmermann state that the E-mail or any other information sent electronically can be compared to digital postcards. Because they bear limited privacy it was important for him that well-designed cryptosystems would ensure the secrecy of such transmissions (Zimmermann, 1998).#2 Cypherpunks As discussed previously, before the 1970’s cryptography was mainly performed by military or spy agencies. However, it changed when in 1976 Whitfield Diffie and Martin Hellman published their book mentioning the “public key cryptography”. During that time when internet spread, a group of “crypto rebels” or “crypto anarchist” begins to emerge, worried about privacy and the harm government does.In 1983, David Chaum the creator of “Digicash” (the first virtual money), suggested a new kind of cryptographic protocol enabling a better form of money (Rid, 2016). These ideas have been the roots of the vision of the Cypherpunk movement. Timothy May one of the creators of the movement, wrote in 1992 the “The Crypto Anarchist Manifiesto”. He describes how can an encryption method can: “alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation.” (May, 1992). He addresses his writing to the “Cypherpunks of the World”, term used by Jude Milhon at one of the first meeting of the creators of this community of hackers. Along with, Eric Hughes who wrote “A Cypherpunk’s Manifiesto” in 1993 and John Gilmore the founder of the Electronic Frontier Foundation (non-profit digital rights group), a new wave began. They criticised the government of hiding and spying without the right to do so. The NSA went down on John Gilmore and threatened him after he shared classified documents on cryptography.We also could talk of Steven Levy who published in May 1993 a famous cover for the Magazine Wired with Eric Hughes, Tim May, John Gilmore are holding up an American flag with their faces hidden by a white plastic masks (Levy, 1993). Another important actor is Julian Assange the creator of WikiLeaks (2006). The multinational media organization specialized “in analysis and publication of large datasets of censored or otherwise restricted official materials involving war, spying and corruption” (WikiLeaks, 2015). Philip Zimmermann developed during this year’s PGP, the most famous email encryption software in the world that securely send data over to the net. The program was available for anyone to use and spread largely thanks to cypehrpunk enthusiastsWhat is Bitcoin ?#1 Cryptocurrency

A cryptocurrency is a virtual coinage system that functions much like a standard currency, enabling users to provide virtual payment for goods and services free of a central trusted authority” (Farell, 2015)

Fascinated by the Tim May’s crypto anarchy Wei Dai publish, in 1998, in the cypherpunks mailing list “B-money” an “anonymous, distributed electronic cash system” (Dai, 1998). The essay describes two protocols, one of them very famous called “proof of work” exposing the idea of creating money for the ones that verifies the transactions.Shortly after Nick Szabo a cryptographer that most probably was a cypherpunk created “bit gold” the precursor of Bitcoin. Nick Szabo’s idea was a kind of response to “Digi Cash” that was handed to the banks by Chaum. He wanted the money to be decentralized with no “trusted central authority” such as banks or governments. However, the proposal left many problems unsolved as mentioned by Morgen Peck: “how do you encourage people to recognize this value and adopt the currency? And what system controls the transfer of currency between people?” (Peck, 2012). After the failure of both “b-money” and “bit gold”, the e-money scene got kind of quiet. When in 2008, an author using the nickname of Satoshi Nakamoto published a white paper called “Bitcoin: a peer-to-peer Electronic Cash System” (Nakamoto, 2008). A (r)evolution was on process, the publication brought a lot of attention and in January 2009 the software client was released. A big amount of computer scientist and cryptographers tested the Bitcoin’s protocols and early users were attached to the political and economic message that the digital money gave birth. The possibility to have a “digital asset not tied to a central bank’s money supply policy or easily subject to government censorship of transfer” (Scholer, 2015).#2 Bitcoin & bitcoins When using the term “Bitcoin” with a capitalized “B”, we refer to the software and the decentralized computer network (Bitcoin Network) of users running that program. Bitcoin uses several protocols which are: the public-private key cryptography previously discussed, the proof of work algorithm also seen earlier, the Blockchain and a peer-to-peer network connection.When talking of “bitcoin” with a lowercase “b”, we point out to a unit of the money that can be transferred on the Bitcoin Network. Satoshi designed it so, there will be a maximum of 21 million bitcoins.What was revolutionary of the idea from Satoshi is that the money didn’t relied on a centralized trusted third party to verify money supply and transactions. Thanks to the Bitcoin community a progressive decentralized network of computers emerged, using a huge amount of computing power with the single purpose of validating and clearing transactions on the Bitcoin Network (B.N).The second great innovation of Satoshi is the “Blockchain”. A centralized public ledger with the history of all the transactions on the Bitcoin Network. This public ledger is stored locally on the computer hard drive of every user running the computer network software. The bitcoins can only be sent or received by logging the transaction on the public ledger. When users try to validate the block they use a considering amount of computing power in other to win the race among other users. If you succeed you will be rewarded a X amount of bitcoins.

“The concept of proof-of-work mining ensures that an adjusted amount of work and computing power must be expended to solve a block, with the block reward providing an economic incentive for honest mining.” (Scholer, 2015).

The virtual money can be subdivided to eight decimal places, it is called “a satoshi”. It has a value of 1/100’000’000th of a bitcoin and is the smallest value it can be possessed. Today the number of bitcoins is over 70% of its global capacity and will reach in 2026 90% of it.The history of Bitcoin is extraordinary, not only from the fact that it was created by an anonymous person or group of person “Satoshi Nakamoto”, but also from its entire history from the cryptography to the cypherpunks to the first cryptocurrencies. Moreover what is incredible is that in a few years the money experienced a huge growth and has now become the strongest cryptocurrency in the world.Stay tuned for the second part of the article !!!

Meanwhile enjoy this video: The Bitcoin Gospel !Bibliography:

Dai, W. (1998). B-money. Retrieved on

Diffie , W., & Hellman, M. E. (1976). New Directions in Cryptography.

Farell, R. (2015). An Analysis of the Cryptocurrency Industry. Wharton School.

Levy, S. (1993). Crypto rebels. Retrieved on

May, T. C. (1992, 11 22). The Crypto Anarchist Manifesto. Retrieved on

Nakamoto, S. (2008, 11 1). Bitcoin: A Peer-to-Peer Electronic Cash System. Retrieved on

Peck, M. (2012, 05 20). Bitcoin: The Cryptoanarchists’ Answer to Cash. Retrieved on

PGP. (1990). An Introduction to Cryptography . Santa Clara: Network Associates, Inc.

Rid, T. (2016). The cypherpunk revolution. Retrieved on

SANS Institute InfoSec. (2001). History of Encryption. Retrieved on

Scholer, K. (2015). An Introduction to Bitcoin and Blockchain Technology. New York: Kaye Scholer.

WikiLeaks. (2015, 11 03). What is WikiLeaks. Retrieved on

Wojtczak, D. (2012). COMP516: Research Methods in Computer Science. Retrieved on

Zimmermann, P. R. (1998). Cryptography for the Internet. Scientific American, Inc.


Banking on Bitcoin (2016), Periscope Entertainment, LLC

Bitcoin the end of Money as we know it (2015),  3D Cotent Hub

The rise and Rise of bitcoin (2015), Bitcoin Rising Hoffman

Ulterior States (2014), I am Satoshi production,

The Bitcoin Gospel (2015),

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Apps China Life in China Mobile

The top 5 apps to download in China

It’s on ! You’ve made your choice ! You’re going to China and the departure is imminent. You probably thought of everything: the flight, the insurance, the hotel, the metro etc. However if you want to survive in China, your smartphone is going to be your best friend! You will need to download a few very useful apps!#1 App: WeChatWeChat - Xavier ForeroStop Facebook, Instagram, Twitter, WhatsApp and others like Tinder in China, you will only need WeChat! You want to talk to your friends, send a file, order a taxi, pay your phone bill, book a night in a hotel, share photos or videos with all your contacts or even make your apartment cleaned up WeChat! It’s the most famous app in China and super simple of usage! The only downside is that you need a Chinese phone number. In addition to that a Chinese bank account to have access to any of the services related with money or payments.#2 App: TranslatorTranslator - Xavier Forero & Stephanie Decollas Other very useful apps when you land in China and the only word you know is “ni hao”: translation app’s. There are tons of them, but I suggest you “Translator”. Very simple of usage, you can choose from a large variety of languages including French. You can either write the word that you want to translate either say it through the Dictaphone.You can engage a conversation with someone in order for each one of you to translate what the other want to say. Last but not least, we can take a photo of the Chinese characters to be translated! And to be honest, when you are at the restaurant with a Chinese card where you can’t understand anything, it’s very convenient!#3 App: VPNDespite everything, if you still miss the life of your friends “without WeChat” and you feel an irrepressible need to connect to Facebook, you will have to get a VPN. Some of them are free and others you will have to pay. We will present you one of each:ExpressVPNExpressVPN is super simple to use and the connection is totally secured. It allows you to access servers from anywhere of the world. This means that you can use Google, Facebook, Skype, Youtube, Netflix and much more! The only negative point is that you will have to pay for it. A little bit less than a 100 euros for one-year subscription. However it worth the shot since the servers are super-fast to connect to. Moreover, the time of connection is unlimited and you can even use three different devices at same time! What is seducing, is that you have 30 days trial and get reimbursed if you are not satisfied.ExpressVPN - Xavier Forero BetternetBetternet - Xavier ForeroAs said previously if you want to have access to any of the blocked social networks, search engines or websites you will need a VPN. We decide to talk about this app because it’s free. However, remember that you are part of the Digital era and that nothing is free. Obviously they are taking most of your data you can be sure of it! However our data is taken from everywhere. So, if you are kind of addicted to what is free or you just don’t want to pay to get a VPN, you should take Betternet it works very well.Of course sometimes you will have small advertisements, but you can get a premium version to get rid of it. In addition to that you will be able to change the location of the server you want to connect. The only problem of this app is that it’s only available for mobiles and tablets!#4 App: Baidu MapBaidu Map - Xavier ForeroBaidu Map is the same as Google Map, but in Chinese! Maybe you don’t see why you should get it as you may think that you already have what you need for guidance, but the answer is quite simple. First of all, you need to use a VPN for Google Map and the one that you already have in your phone does not locate you well, that’s a fact! What is nice from Baidu Map is that you can write in English in the search bar. Most of the restaurant, bars, museums, shops and groceries are easy to find thanks to this.Imagine, you want to cook something at your place, but you don’t know where to find a kind of European grocery close to your where you live. It’s very easy, just search in Baidu Map “Carrefour” or “Tesco” and you will see the closest shops. It is also very useful to have for the taxi because they can read the address in Chinese. It does work as GPS so if you are planning to use a bike or buy a scooter just go for it! The app will basically help you for any travel you will make in China.#5 App: SmartShanghaiWhen we arrived in Shanghai one of the first things foreigner’s advised us to download is SmartShanghai. This app is basically a kind of TimeOut but only for what’s happening in the city. You have a news feed with some interesting information about Shanghai. Moreover, if you want to go out to have drinks or dinner you should get it right now. In addition to that you can be aware of the different event in the night clubs of Shanghai!SmartShanghai - Xavier Forero SmartShanghai is really a must have because the app is in English and very easy to handle. You can find the addresses of the places you want to go and have them in Chinese. What is really nice, is that you also get some description of the location.

In addition to that the average price and even the nearest metro station. In a few words if you want to discover more about Shanghai and be aware of the good deals in the city that’s the app you need.

Moreover, SmartShangai also allows you to buy tickets for shows, concerts, music festivals and many more. If you want to look like the pro of Shanghai you know want to do! And last but not least you can find your apartment in Shanghai, that’s actually how most of us managed to find a good place to live!By: Stephanie Decollas & Xavier Forero