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A Chinese Village Claims to be First Crypto Culture Village with Bitcoin Carved on Guardrail

Yuedong, a mountain village in Wenzhou, Zhejiang of eastern China, has proclaimed itself to be the “world’s first blockchain industrial village”, where about 60% of the villagers there know what cryptocurrency is and even have invested in cryptos.

The village has gained exposure recently as photos circulated on the social media show that the definitions and logo images of some mainstream cryptocurrencies like Bitcoin and Ethereum have been carved on the stone tablet of guardrails along the river running through the village.

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Since it was proposed to build a blockchain industrial village, the remote village has not only attracted the attention of the local government, but also come into the view of the whole country. According to a villager surnamed Lin, the village has seen visitors come every day, and officials of local government have gone there for several times thinking highly of their initiative. Nevertheless, prior to it, few people know the backward Yuedong village for it is isolated as a result of locating in a mountainous region.

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Wenzhou, the city where the village is situated, is known for its emigrants who leave their native land for Europe and the U.S., with a reputation for being entrepreneurs starting restaurants, retail and wholesome businesses in their adopted countries. The sophisticated Wenzhou investors, known for their business and money-making skills, also joined the crypto space, represented by the EOSWenzhou in the EOS BPC campaign.

The village’s decision to embrace blockchain and cryptocurrency was inspired by the co-founder of China’s first crypto exchange BTCChina, Yang Linke, who was born in this village.

Yang came across bitcoin early in 2011 and founded BTCChina later that same year. The Chinese name of bitcoin – Bitebi (“比特币” in Chinese character) was proposed by him when Yang established the exchange. The exchange has once taken up 80 percent of global trading volume but was shut down on Sept. 30, 2017 following a heavy crackdown in the country.

As one of the earliest bitcoin adopter and preacher in China, Yang’s career in crypto has influenced many, especially those young people in his hometown. Though he was harshly criticized by many earlier Chinese investors of Bitcoin Diamond (BCD), which is backed by him, for the coin’s flash crash, Yang is doing something to support his hometown in his way.

According to an estimation provided by the villager surnamed Lin, 60% -70% of the young villagers have kept an eye on cryptos or invested in it, among which, 10% know the underlying blockchain technology and have devoted themselves to the industry such as Dapp development.

While Lin admits it is not practical to build their village into an industrial park to attract blockchain enterprises considering the actual situation of the village. At present, they are mainly focusing on blockchain preach and leveraging it to boost tourism.

Funded by crypto donations, the 1,000-metre long guardrail and a blockchain-themed park are under construction. 10-odd BTC, dozens of ETH, together with some altcoins, have been raised so far. Over 10 cryptocurrencies including BTC, ETH, ETC, BNB, ONT, BTG, BCD, and some other sponsored coins have been carved.

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The village’s move also draws some voices of doubt, saying they are just taking advantage of the high-tech concept. What’s your thoughts about it? Leave your comment below.

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