Chinese Tech Magazine shows Blockchain Practicality by Adopting payment in Bitcoin

By Ravindra Chagetha

The Blockchain technology has found its widest application with cryptocurrency by giving a transparent and more secure model of transaction digitally. The application and its worldwide adoption are constantly growing. Recently China’s oldest tech magazine Beijing Sci-Tech Report (BSTR) announced it will offer subscription payment with Bitcoin (BTC).

The Chinese government is strictly against the use of crypto exchanges and ICO operations have implemented plenty of steps to evade the use. However, BSTR wishes to promote blockchain and crypto use through “practical actions.”

According to BSTR, “Subscribers can pay subscription fees to the specific bitcoin receiving address of the newspaper to complete the subscription.”

The tech magazine, Beijing Sci-Tech Report (BSTR) is Beijing’s oldest technological media publication, has offered an annual subscription to the publication’s ‘Tech Life’ magazine which will amount to 0.01 BTC (about $65).

Despite the ban on trading of cryptocurrency and ICO operations, the Chinese locals are constantly trying hard to find the other way around. Recently even after the ban, it was reported that 10% of the Chinese middle class is increasingly interested in crypto trading and the user volume seem to constantly grow.

The Chinese officials continue to set up regulations to prevent trading and promotional operations related to cryptocurrency. However, owning and investing in cryptocurrency is not illegal.

Responding to queries about the BSTR move on social media, Chinese cryptocurrency news commentator cnLedger underlined the fact that by offering a Bitcoin subscription, the publication was not breaking the law.

“Owning and investing in crypto is not banned,” it wrote.

The media publication organization also prints editorials stemming from its ‘Technology Life‘, along with this it publishes content from the well known US science journal Popular Science.