Chinese Students
Chinese Students Want Crypto Jobs, 8% Own Cryptocurrencies
October 17, 2019
Chinese Students
Chinese Students Want Crypto Jobs, 8% Own Cryptocurrencies
October 17, 2019

A poll conducted among University students in China indicates that many of them see a bright future for cryptocurrencies in their country. A quarter of the respondents said that they would seek employment in the industry which deals with digital assets and related technologies. Approximately, one in 12 students already owns digital coins.

17% of Polled Students Have Had Investments in Crypto

In general, China has a mixed attitude toward cryptocurrencies. On the one hand, the Government in Beijing effectively expelled coin offering projects and major exchanges out of the mainland. On the other, the crypto mining industry is allowed to thrive in certain regions in the country with cheap, abundant energy in optimal climatic conditions. Plans for a digital yuan are also moving forward with the People’s Bank of China recently hiring six crypto experts.

However, unlike authorities, the Chinese people have been embracing decentralized currencies with much less hesitation and for obvious reasons, not only the utility they bring but also their censorship resistance.

The poll confirms that the young and tech-savvy have predominantly positive expectations about the future of the crypto space and are the most eager adopters. Over 8% of Chinese students currently own some cryptocurrency, while another 9% had previously invested in digital assets.

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It has been reported by 8btc, the crypto news outlet, that the survey has been conducted by Panews among attendants of 131 Colleges and Universities in 26 Chinese provinces. The majority of the respondents, over 77%, are undergraduates, with the rest being graduate students. Thus, most of them are specializing in the fields of economics, management, and engineering but there are also some who study literature.

27% of Future Graduates Want to Work in the Crypto Industry

It has also been reported that almost 27% of the students in the survey indicated that they would seek employment in the growing blockchain industry in the future.

However, media remains the main source of information about the crypto space and nearly 40% of the students describe media reports as influential. Despite that, close to a quarter of the participants admit that they do not know anything about blockchain. 22% of them acknowledge that the coverage in mainstream media is mostly negative, while 17% claim that they hear more positive news.

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Likewise, the authors of the study point out those crypto-related educational courses are still rare in Chinese higher education institutions.

At the same time, the level of awareness about cryptocurrencies is relatively high, with 67% of those polled stating that they know about bitcoin. Around 15% admitted that they had not heard anything about digital currencies such as ethereum, neo, and Facebook’s Libra project. Just seven of the respondents knew all entries in a list of 11 crypto terms like “mining,” “stablecoin,” and “hash value”.

Thus, the People’s Republic approaches cryptocurrencies with caution and has already tried to limit their spread in Chinese society and economy, Beijing has not turned a blind eye to the development of decentralized coins.


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.