Research and Markets: Bitcoin in China - Chomping at the Bit: Comprehensive Look at the Current and Potential Market
Research and Markets (http://www.researchandmarkets.com/research/4xttxt/bitcoin_in_china) has announced the addition of the "Bitcoin in China - Chomping at the Bit"report to their offering.
China has traditionally been a very cash based society with Chinese consumers preferring tangible goods and assets as opposed to virtual/non-tangible. However, this is changing rapidly. The younger generation has texted and clicked their way through to make China one of the top e-commerce markets in the world and payment services like Alipay have surpassed the global giants like PayPal both in usage and functionality.
Now many consumers leave a significant portion of their money on the Alipay platform as, through Alipay's Yuebao' service offering, users get a relatively risk-free 4% APR, eclipsing most banks. Further, on-line platforms like Taobao make Amazon look like your corner newspaper stand in terms of selection of goods and distribution; on-line stores are rapidly becoming the primary choice for consumers purchasing anything from food to dish towels.
In February 2013, China became the second largest active Bitcoin market globally as measured by wallet downloads. This has attracted new Bitcoin based businesses to China and what could be a massive market for the developing virtual currency.
What happens when you combine one of the most promising virtual currencies in the world with the largest country in the world? Even with the huge market potential though, will Bitcoin really take off in China? Can the Chinese consumer shift the value of the virtual currency as they did with gold in early 2013? What will the government eventually and inevitably do to control the currency?
It could be a potentially huge market, but will largely depend on its payment function development, the attitude of the Chinese government and the stability of Bitcoin's value.
The Bitcoin in China: Chomping at the Bit report is one of the only reports available today that takes a comprehensive look at the current and potential market for Bitcoin in China.
Key Topics Covered:
1. Foreword
2. A Brief Historical Overview of Bitcoin
3. Bitcoin's Current Status in China
4. Bitcoin as a Transaction Platform
5. Bitcoin Mining in China
6. Other Bitcoin Services in China
7. The Future of Bitcoin In China
8. Recommendations
For more information visit http://www.researchandmarkets.com/research/4xttxt/bitcoin_in_china
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