Bank of China (BoC), one of the country’s big four state-run commercial lenders, published an explanatory infographic about bitcoin, including how it works and why its price is volatile, on its website. This is another signal that the central government’s opinion on the virtual currency is thawing. Bank of China posted infographic explaining why bitcoin price is going up.

Bank of China introduced in details about the principles of bitcoin, history, mining mechanism. The infographic explains how bitcoin works in three sections, describing how it works, its benefits and pitfalls, and featuring prominent figures in the cryptocurrency industry.

It is a significantly significant move since this is the latest indication that China’s skepticism of cryptocurrencies is retreating. The country’s financial authorities have been showing a greater willingness to embrace digital tokens in recent months.

The content can be viewed through the Bank of China app, and it reached 190,000 views at 6 p.m. The article was created by the China Bank's Association for Intelligent Education and Investment in Securities and Finance.

Meanwhile, Coinness, a global blockchain investment information platform, quoted a local financial industry official as saying, "It is significant that the Bank of China, one of the four most conservative Chinese banks, has introduced bitcoin, not blockchain technology," adding, "We need to pay attention to the bank's move to communicate directly with financial authorities."





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