The evolution of the Chinese local system is carried out by the commerce: here in China anything is impossible, even that a remote village may transform itself in an inustrial hub for currency exchange.

This is what happened, for instance, in Moyu, a small village in western Sichuan, where a local factory had the birght idea of setting a bitcoin mine up, taking advantage of China's being tech-savvy. The revolution peaked when those who have always and sole been manual workers moved to warehouses with a lot of computers that day by day mined thousands upon thousands of bitcoins.

In order to incentive those currency system, every day a certain percentage of bitcoins was distributed proportionately among miners depending on how many bitcoin were extracted. As such a profit margin was also a result of the computer's speed, Moyu - like so many other villages - evolved whether exploiting energy or increasing the number of mining computers.

Mr. Sharma of Bitmain - the leading Chinese company in Bitcoin mining - got familiar with bitcoins in Shenzhen, from where this currency sistem was moved to Pechino: it is not the first time that the "big" has to learn by the "small", as happened among Shenzhen and Pechino.

The importance of Bitcon is witnessed also by enterpreneurs: Remitsy, a start-up based in Pechino, uses bitcoin as a manner of converting currencies in renminbi.

A foreign business with an interest in buying China products can transfer its domestic currency (i.e. EUR) to an intermediary start-up as Remitsy, that will convert it into bitcoin. The amount of bitcoin so obtained will be sold, so getting renminbi, that will be transferred to the Chinese industry of that product. All those steps take place just in a while.

As Moyu, many other small villages deem to be considered as a part of the Silicon Valley when it comes to technology and bitcoin as well. The proper term to be used is "mining bitcoin": the idea of a mine, as something that already exists and that has just to be discovered.

BLB Asia Desk can advise Italian and foreign businesses about all the types of investment that China offers, so that each of them may become a pioneer.

For further information, please contact asiandesk@blblex.it