Chinese government study of cryptocurrencies ranks Ethereum #1 of the 28 investigated...

China’s Ministry of Industry and Information Technology has released the results of a study involving 28 cryptocurrencies.

The methodoligy was explained like this (translated):

"The evaluation of the global public-private chain technology mainly focuses on the basic technical level, application level and innovation ability of the public chain. In terms of sub-indexes, the Styme chain that utilizes the blockchain graphene architecture has the highest score in the basic technical indicators. The NEO whose goal is to use smart contracts to automate the management of digital assets is ranked first in application assessment. The first place in the innovation power index is Bitcoin, which pioneered the application of blockchain technology."

Now people are wondering - why is the Chinese government even conducting studies like this? Could this be a sign that regulations on cryptocurrencies could soon be loosened? Which would be a huge boost to global cryptocurrency markets.

Below is their scoring card - while we haven't been told what specific tests are included in each category, you can see they are scored on 3 features: Technology, Application, Innovation.

My opinion - some results on this list I can understand, but there’s a few surprises that have me questioning the specific underlying factors they analyzed. Regardless, it’s nice seeing China talk about cryptocurrencies besides just saying they’re ‘too risky’ - this is a step in the right direction.

Not listed: the 16th to 28th places - which are Ether Classic, Reverb Chain, Dash, Cloud Storage Chain, Litecoin, Ark, Big Zero Coin, Nano, Bit Cash, Decred, Super cash and new chain.

The Chinese full report can be found here.

Author: Ross Davis
E-Mail: Twitter:@RossFM
San Francisco News Desk