On September 2, the Central American University of José Simeon Cañas (UCA) released a report that most Salvadorans took a stand against Bitcoin (BTC). The survey among residents took place on the occasion of the government’s plans to pass a law recognizing the first cryptocurrency as a legal means of payment.
Salvadorian Bitcoin Bill
On September 7, a bill on the recognition of the first cryptocurrency as an official means of payment in the territory of the country, also in the US dollar, will come into force. The initiative was supported by 62 parliamentarians out of 84 possible. The authorities guarantee the automatic conversion of Bitcoin into US dollars which will remain the base currency of the state.
El Salvador’s Financial Commission approved a trust fund of $ 150 million. The funds from it will be used to pay bonuses of $30 in Bitcoins that Salvadorans will receive upon activating the Chiva state cryptocurrency wallet. In addition, the country’s authorities are installing 200 Bitcoin ATMs. According to government estimates, there are now 50,000 Bitcoin users in El Salvador. This number is expected to increase to 4 million.
The citizens oppose
There are just 4️⃣ days to go until Bitcoin is legal tender in El Salvador 🚨
But a new poll suggests most adults in the country are against it ❌
However, many Salvadorans do not agree with this bill. 1,281 people took part in the UCA survey. In total, 67.9% of respondents oppose the recognition of Bitcoin (BTC) as a legal means of payment. Only less than a third of respondents (32%) said they agreed to some extent with this decision.
According to the dean of the UCA, Andreu Oliva, for the first time, public opinion is so in disagreement with the decisions of the Parliament and the President. “There are a lot of concerns about the negative consequences when using Bitcoin”, – said Oliva.
In addition, the study found that 40% of respondents do not know how much Bitcoin costs in dollars. 43% of participants believe that with the legalization of Bitcoin, the country’s economic situation will worsen. According to the UCA, most of those polled who spoke negative about Bitcoin are people with little education. In August, the University found that 9 in 10 respondents knew next to nothing about Bitcoin, and 8 in 10 had little or no confidence in the new currency.
Recall that recently the inhabitants of El Salvador demonstrated massively. Hundreds of protesters chanted the slogan “No to Bitcoin”. Among the protesters were company workers, veterans, retirees and students.
The premier cryptocurrency continues to storm the resistance level with mixed success. Many traders have already started celebrating the win, mistakenly suggesting that with Bitcoin surpassing $ 50,000, the dark days of uncertainty were over. However, it would have been necessary to await the confirmation of this victory, resulting in particular in the consolidation of the price of the asset above the levels of 51,000 – 52,000 dollars.
Unfortunately, this consolidation did not take place. The sellers then seized the opportunity and pushed the price of Bitcoin below $ 50,000, causing a series of sell-offs of the positions of some overconfident buyers.
The state of affairs is not that bad, however. This new bullish wave looks much more powerful than any that came before it. Contrary to what has happened the last few times, Bitcoin is not consolidating into a narrow trading channel, but is constantly trying to secure its authority over the new local high which corresponds to the $ 50,000 level.
This recent increase suggests that buyers are fed up with price stagnation and are determined to forge their way to new all-time highs. Their persistence has also impacted altcoins which have reacted to recent events by showing, for some, exceptional growth.
This increase cannot become problematic if the bulls exhaust their strength without achieving a significant result. Such a situation will spawn a new wave of sales that will lower the price of Bitcoin until it reaches its support level of $ 46,000. It will then be necessary to wait for a new accumulation to occur, after which the traders will have to start again from zero in their attempt to cross the resistance. In this case, it will also be necessary to consider the eliminations of long positions which have surely been opened by optimistic traders.
As a whole, the behavior of Bitcoin inspires confidence in the success of this adventure. During the last day, the price of the biggest cryptocurrency rose significantly before falling slightly and rising again. Even if this Friday started with a drop in the price of Bitcoin, the creation of Satoshi Nakamoto has already taken its positions and is currently trying to break through the resistance level. Fluctuations in the price give hope that the battle for this level will finally come to its logical conclusion by the end of the week.
By studying the weekly Bitcoin timeframe (1 candle = 1 day) in previous reviews, we have seen the formation of a triangle, based in particular on the presence of descending price peaks and stable price funds. Within this triangle, the chartist figure called the “bullish pennant” could be recognized. This figure is one more argument in favor of further growth in the price of the asset.
If the usual (bullish) figure exit scenario occurs, Bitcoin holders should expect another round of explosive growth that will take the world’s largest cryptocurrency to a new all-time high. This bull run could potentially mean consolidation above the $ 90,000 – $ 100,000 levels.
The $ 50,000 mark is not only a dynamic resistance level, but also a significant psychological level. It is likely that this is precisely why this number is so difficult to cross. The law of large numbers, as well as that of round numbers, applies perfectly to the cryptocurrency market. Traders prefer to sell their assets near levels that they see as aesthetic value. Or maybe they’re just too lazy to put an amount like $ 51,253 in their limit orders. Either way, when Bitcoin approaches key levels such as $ 50,000, $ 60,000, $ 70,000 and so on, significant volumes of the asset are sold.
Crossing the $ 50,000 mark becomes all the more important given that this number also represents the dynamic resistance level which indicates the downward nature of the Bitcoin trend. Consolidation above this level will mark the start of the new bull run and the asset’s shift from a descending global channel to an ascending global channel.
This same conclusion is confirmed by the formation of the “bullish flag” which reinforces the probability of the move described above. For our readers who do not yet know it, technical analysis and the theory of chartist figures are based on the dogma that all variations in the market are repeated. In a system where everything is decided by a majority of votes and where the number of votes of each is determined by the amount of funds available, individuals instinctively or intentionally follow the same algorithm. The chartist figure called the “double top” for example is actually a graphical representation of the fact that the asset has failed, twice, to cross the resistance level, even despite a correction and an accumulation of positions between both attempts. Therefore, Any trader who knows a little about the market will close his positions after seeing the formation of this pattern because he will be sure that the price will drop and he will be able to buy the asset back at a lower price. Most other traders will have the same idea, and the figure will come true, even despite the doubts of some. This is exactly the purpose of identifying chartist figures. They are in fact a visual representation of the decisions made by thousands of other traders. This is exactly the purpose of identifying chartist figures. They are in fact a visual representation of the decisions made by thousands of other traders. This is exactly the purpose of identifying chartist figures. They are in fact a visual representation of the decisions made by thousands of other traders.
In summary, Bitcoin continues its attempts to break through the resistance level that has already become iconic for the entire cryptocurrency market. On smaller timeframes rollbacks of up to $ 46,000 can occur, but the overall Bitcoin trend signals an impending rise above $ 50,000 and, as a result, the start of a new bullish wave until levels of 90,000 – 100,000 dollars.
Ethereum (ETH)
While haters talk about a near retirement from Ethereum and mention more modern rivals like Cardano and Solana, the world’s second largest cryptocurrency by capitalization pays no heed to these exclamations and continues to soar. local.
Last night, Ethereum almost broke through the $ 4,000 level, but decided to stop at $ 3,950.
At the time of writing this review, the price of the first altcoin is trading around $ 3,817 which is pretty impressive. At this rate, Ethereum could even hit $ 10,000, especially if Bitcoin finally breaks its resistance level and thus heralds the start of a new bull run.
It would be advisable to keep a certain amount of this asset in your wallet, even if you are not particularly interested in blockchain technology. There is no longer any doubt that the price of Ethereum will increase significantly in the near future. We can only congratulate those who invested in this token when its price varied between 80 and 100 dollars.
According to technical analysis, Ethereum is currently trading within an ascending channel and has the potential to grow at least to the $ 4,200 level. If by reaching this level Ethereum manages to exceed the resistance of the bears, we will have to expect new all-time highs.
Index of fear and greed
The Fear and Greed Index saw no mood swings in the market. Even Bitcoin’s recent rebound from its resistance level did not surprise traders. It is even likely that many of them were waiting for it so that they could seize the opportunity and reopen positions before the asset hit $ 50,000 again.
Top 10 altcoins
The ten most popular altcoins according to CoinMarketCap have reacted ambiguously to Bitcoin’s attempts to break through the iconic resistance level. This is probably related to the fact that each wave of Bitcoin’s correction also causes altcoin prices to drop, even though they were initially heading for confident growth.
Holders of Binance Coin (BNB) are not particularly happy with the dynamics of this token, even despite the Twitter community actively promoting the idea that the asset has enough potential to reach the token level of $ 1,000. . If this turns out to be true and Binance Coin follows the Ethereum journey, today may be one of the last opportunities to invest in this asset at a relatively affordable price.
Even despite the success of the test of the ability to use smart contracts via the Plutus framework, the price of Cardano remains immobile. New features on the coin’s mainnet are slated to launch on September 12, and many traders expect this asset to grow significantly. It would obviously be nice if Cardano followed Ethereum not just technologically, but also in terms of the price of the asset. It seems, however, that it will still take a long time.
Solana (SOL) proves once again that it is not a “dead” project. When part of the community decided that the asset had already exhausted its potential, Solana not only resumed its positions, but even surpassed the previous local peak.
IOTA (MIOTA)
According to CoinMarketCap, the best performing asset this Friday among the 100 most traded cryptocurrencies is IOTA (MIOTA). This token brought its holders around 30% profit in a single day. At the weekly level, this parameter has already crossed the 67% bar.
Here is the chart of the report of IOTA to the Euro available on TradingView. As you can see from the screenshot, the price of the asset in question has risen significantly in just two days and is currently testing the resistance level within the ascending trading channel.
Taking into account the recent increased activity of Bitcoin, it would be unfair to say that this token no longer has the potential to go beyond the upper limit of its trading channel. It is likely that IOTA will hit a new all-time high very soon.
FTX Token (FTT)
The loser of the day is FTX Token (FTT). At the time of this writing, this asset has already fallen in value by more than 9%.
Overall FTX Token is moving within an ascending channel and has moved closer to the resistance level setting a new all-time high. The potential for future growth is however not yet exhausted, which is reinforced by the fact that the token is moving along a resistant support level (represented on the chart by a blue line).
The cryptocurrency market is currently going through an important stage. If Bitcoin manages to break through the resistance level, then it will trigger a bull run on the entire market. However, we must remain cautious. Don’t neglect risk management and don’t forget about stop-losses.
In 2021, UK students are investing in cryptocurrencies to cover their living costs. According to a survey conducted by financial education resource Save The Student, the proportion of students investing in crypto tripled during the year.
Reasons to invest in cryptocurrencies
As part of the study, 2,038 UK university students were interviewed between May and August 2021. Respondents cited mental health issues and the Covid-19 pandemic as the most likely reasons to invest in cryptocurrencies. However, 41% of those surveyed cited lack of money as a number one problem. Three-quarters of those surveyed said they had considered dropping out of school because they did not have enough money to pay for it.
“The usual sources of funding for students are becoming difficult to access due to the volatility of the job market and because some parents lost their income during the pandemic,” said Jake Butler of Save the Student.
However, regulators are warning young people about the risks of investing in cryptocurrencies. The UK’s Financial Services Authority (FSA) said young people invest in products for which no one is responsible. Last November the FSA banned retail investors from buying cryptocurrency derivatives.
How Much Money Do Students Need?
On average, young people face a monthly living expense of 810 pounds sterling ($ 1,120). Research has shown that the typical student is missing £ 340 per month. Possible income does not cover the average monthly cost of travel, food and accommodation.
The most likely ways to fill this gap are financial support from parents, part-time work, and savings.
Some students said they found other ways to make money, from bank overdrafts and selling real estate to gambling and participating in drug trials. Crypto investing has remained a niche with 6% of students participating. However, this figure has tripled over the past year.
It is worth noting that the attitude of the people of the United Kingdom towards cryptocurrencies has changed dramatically. They no longer see digital assets as speculation and see them as a serious investment option. While last year 38% of people compared the cryptocurrency market to gambling, that number has now dropped to 9%.
Remember that this June the company Opinium conducted a survey for the direct investment platform Interactive Investor. 1,000 British respondents aged 18 to 29 took part in this survey. 45% of young people have chosen cryptocurrencies as their first investment. Bitcoin is the undisputed leader of digital assets, a fifth of those surveyed had already invested in it.
The buy-now-pay-later market is a booming business. More and more people are taking advantage of the option of paying for a product in installments. Online retail giant Amazon also wants to take advantage of this trend and has teamed up with the Affirm payment app for this purpose.
• BNPL market is growing in popularity • Affirm brings more “transparency, predictability and affordability” to Amazon • Stocks respond positively to deal
Buy a product now, but only pay off later in installments – this is a trend that is increasing, especially among younger people. This new flexibility in shopping is made possible by a wide variety of so-called buy-now-pay-later platforms (BNPL) that specialize in precisely this service. They are often an inexpensive alternative to the conventional credit card , since in most cases there is no interest for the customer, only the purchase price is actually paid. There are now numerous providers who vie for every customer in the highly competitive market, such as Klarna , Afterpay or Affirm.
The Fintech Affirm recently achieved a coup – a partnership with online giant Amazon . As the two companies recently reported, the payment option with Affirm would from now on be available during a test phase for selected customers in the USA for purchases from a value of 50 US dollars. There would be no hidden costs for the customers and no interest would accrue, just as it corresponds to the Affirms business model. “By partnering with Amazon, we are bringing the transparency, predictability and affordability that Affirm offers to the millions of people who shop on Amazon.com in the US today. Affirm’s alternative to credit cards provides more choice and flexibility in what consumers use on Amazon want, “said Affirms Eric Morse, senior vice president of sales, in the press release.
This is how Affirm and Amazon stocks reacted
The news was very well received by investors: Affirm shares jumped a whopping 46.67 percent to 99.59 US dollars on the reporting day. For the Amazon paper, it went up 2.15 percent to 3,421.57 US dollars.
Buy-now-pay-later options are growing in popularity
The study “Rethinking Consumer Financing”, published in August by the financial services provider Credi2, also shows that BNPL options are becoming increasingly popular. A representative survey of 1,000 people from Germany and Austria on the subject of buy-now-pay-later models was carried out. According to Credi2, the results clearly show that an option to pay in installments is becoming increasingly important for customers, especially in the 18- to 34-year-old age group. Shop donations are increasingly relying on payment apps such as Klarna and PayPal & Co., which could turn out to be a problem for banks: “Hardly anyone is willing to laboriously submit their loan application to the house bank and then wait for the money to be paid out. For the customer, it becomes a matter of course that the lending process goes smoothly is integrated into the purchasing process, “said Credi2 CEO Daniel Strieder, commenting on the study.
Tech giants are jumping on the bandwagon
Amazon isn’t the only tech giant to team up with a BNPL service provider. Square recently announced that it would take over affirm rival Afterpay for $ 29 billion. According to Bloomberg News, the iCompany Apple is planning to install a similar payment option together with the major US bank Goldman Sachs .
In Apple’s success story, investors are still not giving up.
In mid-August, the price had passed the $ 150 mark and the record rally continues: on the first day of trading in September, the shares had risen to the $ 155 mark. They are likely to remain close to this record level on Friday: they were traded at just under $ 154 on the Nasdaq stock exchange.
As for the gigantic market valuation, the iPhone maker is on the way to the next milestone with the ongoing rally. The first trillion mark was taken by Apple in August 2018, the next two years later in September. The current stage up to the third trillion could now go as fast as the share has already covered half of this distance. At around $ 151, the $ 2.5 trillion mark was crossed in less than a year.
At this walking pace, it would be the logical consequence if the next trillion mark fell by late summer at the latest in 2022. Analysts consider this historic step realistic; Dan Ives from Wedbush Research spoke of it a few months ago. The Apple Car and the iPhone 13 are seen as important sources for even more price imagination. Ives now has $ 185 as a price target – a value at which the stock would have passed the next trillion mark. According to the current status, about 181 dollars are necessary for this. The record rally in Apple shares supports the belief that they are in an overarching long-term uptrend – with even more headroom. On Monday, before the share jumped up again, the chart technicians at UBS referred to a rising line in the weekly chart. This had given the shares resistance for a year – most recently at the $ 151 mark, which the share was able to sustainably leave behind in the past few days. A “long-term bullish signal” for the UBS specialists.
So far, Apple stocks have risen almost 16 percent this year, which is a tad more than the Dow. Based on the corona crash with a $ 57 low in March 2020, they are again worth more than two and a half times. In 2007, when Steve Jobs rang in the smartphone age with the first iPhone, stocks were still a bargain by comparison. If you adjust the price for stock splits, investors paid less than $ 7 at the time.
Twitter drills up its business model. As the short message service announced, there will be a paid subscription function in the future. The main aim of this is to open up new business opportunities for a specific user group.
With the new offer, Twitter is targeting American influencers or journalists in particular, who, through such a “Super Follows” subscription, could generate corresponding sales through users who would then also have to pay. For news providers, the most expensive option would cost $ 9.99 per month. Requirements for use are at least 10,000 followers and more than 25 tweets per month.
Even stronger growth spurt?
It is certainly understandable that this offer was first launched in America. It will be interesting for the future when Twitter will also activate this subscription function in other markets. That could turn the current business model upside down and re-fuel current growth expectations. For this year, the market assumes on average that the Internet provider can increase its sales by around 36 percent and triple the operating result based on EBITDA.
Looking towards the old high
The share has regained upward momentum in the past few trading days after the previous weakness. In a first step, this could go in the direction of the current resistance zone at around 42/43 dollars, almost 10 percent potential. Up to the previous high it is a good 20 percent.
Speculatively positioned investors who are betting on a renewed technical recovery can also use a call warrant. We recommend an Open End Turbo Call warrant from UBS with a leverage of 6.8. We estimate the underlying profit potential at almost 70 percent with a price target of 1.40 euros. We set the stop loss at 0.60 euros.
Since it was founded around 20 years ago, Google has developed into a well-known global corporation. Despite the parent company Alphabet, the search engine giant still has numerous companies under it, such as YouTube, HTC, reCAPTCHA and Co ..
• Google has established itself as a valuable brand over the years • Mother of numerous subsidiaries of its own • Companies such as YouTube , Android , Tenor, Nest Labs and many others are under the Google umbrella
The US technology company Google , headquartered in Mountain View, California, has been a subsidiary of the Alphabet holding company since 2015 . Through a restructuring, the Google shares were converted into Alphabet shares at that time and the company itself was divided into several subcontractors.
Google was originally founded in 1998 by Larry Page and Sergey Brin , who until recently headed the parent company. “We did a lot of things back then that seemed crazy at first. A lot of these crazy things now have more than a billion users, like Google Maps, YouTube, Chrome and Android. And that wasn’t enough for us. We’re still trying to do things that other people think are crazy, but we are completely enthusiastic about them, “said Page some time ago, as quoted by the online marketing agency Hanseranking. Google became known primarily for its search engine; over time, the company has established itself as the world’s largest search engine, with a market share of around 90 percent for search queries. Since it was founded over 20 years ago, the search engine giant has developed into a valuable company and a well-known brand.
Android
Android – a brand known to most people, was bought out by Google in 2005. It is both an operating system and a software platform for mobile devices and thus offers solutions for smartphones, cell phones, televisions, media players, netbooks and tablets.
Another well-known subsidiary that has been part of Google since 2006 is YouTube. It is probably the best-known video portal that can be used for free uploads and streaming.
DoubleClick
In 2007, the search engine giant acquired DoubleClick. At the time, it was the largest acquisition in Google’s company history. The group had prevailed against competitors such as Microsoft and Yahoo. DoubleClick develops and sells technologies and services for advertising and marketing agencies as well as other online marketing solutions. Last year, DoubleClick was combined with the Google Analytics 360 Suite and now runs under the Google Marketing Platform brand.
reCAPTCHA
reCAPTCHA – another company that is unlikely to be unknown to anyone. A service that offers website protection from spammers has been operated by Google since 2009. He tries to differentiate whether certain actions are carried out by a real person or a computer program or a bot.
AdMob
In 2009, Google took over the rights to the platform, and in the next year the group acquired AdMob in full. Even Apple had then expressed interest in a takeover, but was outbid by Google. AdMob stands for Mobile Advertising and specializes in advertising on mobile devices such as smartphones or tablets.
Kaggle
Kaggle, an online community for data scientists, has been under the Google umbrella since 2017. At Kaggle, it is particularly about the organization of data science and machine learning competitions.
HTC
The Taiwanese manufacturer of smartphones, tablets, VR glasses and Co., HTC, has also been part of Google since 2017. At that time, the group had secured part of the HTC developers and the license to use HTC patents for 1.1 billion US dollars.
Tenor
In the following year, Google took over Tenor, an online GIF search engine and database that is used in messengers and keyboard apps around the world. “Tenor finds the right GIFs for the right moment, so that you can find the right GIF for the respective mood,” Internetworld quotes Cathy Edwards, Vice President of Engineering at Google. “Tenor will help us to do the same with Google Images and other GIF-using products […],” continued Tenor’s takeover in 2018.
Nest Labs
Since February 2018, Nest Labs has also been under the umbrella of Google. The automation company offers smart home solutions such as intelligent cameras, video doorbells, smoke and carbon monoxide alarms, thermostats and much more.
The list of Google’s subsidiaries could go on for a long time. Companies such as VirusTotal, Waze, ITA Software and many others have also been taken over and integrated by the search engine giant over the years. If Google sticks to this strategy, the list of subsidiaries is likely to get longer and longer in the future.
The US company Apple will make changes to its App Store after strong criticism.
Other media app providers should then be able to integrate an in-app link to their website, which users can use to set up or manage an account, Apple said , pointing out that the agreement was made with the Japan Fair Trade Commission , but should still apply worldwide from 2022.
Spotify and other technology companies have been calling Apple’s restrictions unfair and anti-competitive for years because the Californians had previously forbidden them to notify their users of login options outside of the app store.
However, the new regulation does not apply to all transactions via the App Store. Game-oriented in-app purchases still require the use of the Apple payment system. Video game maker Epic Games is currently suing Apple in connection with this practice. The process is about the fact that Epic Games no longer wants to give up 30 percent of the income from the sale of digital content for the “Fortnite” game app on iPhones to Apple. Apple had banned the game from its app store because Epic wanted to install its own payment system bypassing Apple. The game itself is free, but users can upgrade it for a fee.
Broadcasters were instructed on Thursday to ban artists with “incorrect political positions” from programming. A “patriotic atmosphere” must be cultivated, as the National Radio and Television Authority (NRTA) announced. The regulation of cultural programs will be tightened. Action is taken against content that is perceived as unhealthy as well as against high salaries of the stars and tax evasion.
This is part of a whole series of measures that the authorities are taking to tighten their oversight of many industries – from technology to education. This is intended to strengthen control over the economy and society after years of rapid growth. This week, for example, new rules were introduced according to which under 18-year-olds are only allowed to spend one hour playing online games every Friday as well as on weekends and holidays. The supervisors reacted to growing concerns that more and more young people could develop a gambling addiction, it was said to justify.
The entertainment industry has recently been targeted after a series of tax evasion and sexual assault scandals. Last week, the Internet regulator announced that it would take action against the “chaotic” fan culture of celebrities. The NRTA, in turn, has now announced regulations to limit the fees for actors. They should also be encouraged to take part in welfare programs and to take on more social responsibility. Tax evasion should be punished severely.
“DEFORMED TASTE”
The selection of actors and guests in the channels should also be carefully controlled. Political education and moral behavior are therefore considered criteria. The “deformed” taste as well as an “effeminate” aesthetic in the programs should be ended. Conversation with “vulgar” Internet stars and the display of wealth should be rejected. Hard action must also be taken against an unhealthy fan culture. Encouraging fans to spend money voting on television channels should be strictly prohibited.
China censors everything that the government believes violates fundamental socialist values. Authorities and state media have been calling for boys to become more masculine in recent months. At the same time, male stars were criticized who put on heavy make-up and thus convey a feminine image.
The market economy reforms initiated four decades ago have made the People’s Republic the world export champion and the second largest economy after the USA. There are now hundreds of billionaires and thousands of millionaires in the socialist country, which has deepened inequality. China’s Communist Party is now pushing for top-down redistribution. The fight against inequality and for “shared prosperity” is not about “killing the rich to help the poor,” said Han Wenxiu of the influential Commission for Financial and Economic Affairs recently. But those who got rich first should help those who have remained behind.
The fact is that a new trend has emerged in China. Rather than rushing to work for global companies in the West, young Chinese are increasingly choosing to stay at home.
Young IT specialists are in special demand in foundations that use computer models in their work.
The popularity of such funds is steadily growing: the volume of assets under their management has increased tenfold compared to four years ago, and exceeded 1 trillion yuan ($ 155 billion), according to Citic Securities Co.
As a result, Chinese foundations now have to compete for young talent not only from Wall Street, but also from local tech giants like ByteDance (owner of TikTok) and Alibaba (NYSE: BABA).
To attract specialists, foundations have already increased starting salaries by about three times compared to fees in the West – from $ 100,000 to $ 300,000 per year.
“It is very important for us to recognize talent early on, because once they go overseas, they have more options and we will have to compete with international companies,” explained Wang Chen, founder of the Ubiquant Foundation.
