Lise Li: Why Bitcoin SV will succeed in China

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Lise Li has all the right credentials for her new job as China Manager for the Bitcoin Association. She has worked in ecommerce, she has been Chief Operating Officer for a Bitcoin mining pool, but, most important, she believes in the potential of Bitcoin SV in China.

It’s partly a matter of culture. As a resident of Beijing, she says that when she’s had foreign friends visiting they are “shocked” to see that Chinese people will only take their phones when they go out. They don’t bother with wallets because they’ll be able to pay for everything with apps like Alipay and WeChat Pay. Whereas, in Europe, especially in Germany, she’s noticed that “everyone loves to pay in cash.” Their phone-friendly lifestyle will make the everyday use of Bitcoin less of a change for Chinese people. Besides, “the young generation accepts new things fast, and they love tech.”

Whilst there are still regulatory restrictions slowing the development of Bitcoin in China—such as the ban on converting fiat currency into crypto—officialdom appears to be softening its attitude. The new Special Economic Zone announced this year for Shenzhen is to include plans for research on cryptocurrencies.

And there are already Chinese BSV startups such as the social network WeiBlock which are offering new kinds of online services—in this case, a Twitter-like experience, but one in which BSV’s microtransactions create an economy out of social comments: say something that people find interesting or approve of, and you will be rewarded with money, not just ‘likes.’

Lise describes her job at the Bitcoin Association as one of “gathering pioneers” to share their expertise and experience with Bitcoin SV. She believes that BSV development in China is “a more active field” than in other countries—with many university students taking part in projects. And in terms of hardware, she says that “almost all” the manufacturers of mining equipment are in China.

Lise predicts that data storage will be the most important use of BSV, more important even than its use as money. And although she is promoting BSV activities in China, her vision for the future is international, nothing less than to “build a globalised business ecosystem.”

Hear more from Lise Li in this week’s CoinGeek Conversation podcast:

You can also watch the podcast video on YouTube.

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