Hong Kong people fleeing crisis Move money into the crypto world

        Due to the prolonged protests in Hong Kong One of the protests that have continued since June. There is no indication that it will end anytime soon. From protests over the extradition law, Hong Kong people are worried that it will result in political prisoners being captured and sent back to China in the future. It has now spread to calls for China to allow Hong Kong to be an independent state that can govern itself.

         Day by day, the news of this protest can be said to have become more violent little by little. Tourism has almost come to a halt. People are canceling flights as a safety precaution in the uncertain situation. As for the situation in October, it can be said that Hong Kong is starting to shut down itself from the outside world every now and then.

     Both the disruption of the economy Stores that closed because they were unable to transport products to replenish stocks Hotels that are languishing as tourists flee Transport has virtually come to a halt after all subway lines in Hong Kong declared an emergency shutdown. But the biggest problem would probably be the inability to withdraw cash because ATMs throughout Hong Kong lack service staff to refill cash into the machines.

Hong Kong supermarkets are starting to run out of products. This is because people flock to buy in order to stockpile during times of crisis.

        Branches of major banks in Hong Kong, including Bank of China, Bank of East Asia and Industrial and Commercial Bank of China, have all suspended services. Young people who gathered to protest also worry about the privacy of their transactions during the protests and that they will be tracked by mainland China due to the form of payments that require centralized data transmission. This has caused Hong Kong's financial services to truly begin to plummet into the abyss.

            But as spending appears to have stalled, the prices of Bitcoin and other cryptocurrencies have skyrocketed significantly. This is because some people are gradually starting to find a way to escape transferring their assets away from the hands and scrutiny of the government. including for more freedom in spending

        This can be seen from the circulating amount of Bitcoin traded on the LocalBitcoins website. In the Hong Kong area at the end of September, rose as high as 12 million Hong Kong dollars

        A mop that can be said to be the most advanced in the world. This event has had the foresight and use Cryptocurrency It is another way to store new assets instead of the old regime's currency in order to escape from the control of intermediaries such as the Chinese government. It can be said that it is an adjustment by using technology to get the most benefit without having to use a stand-in at all. And from the news of protests that are becoming more and more violent day by day. In the long run, whether the direction and trend of the digital finance industry in Hong Kong will continue to be popular remains to be seen.

The footsteps sparked the protracted protests in Hong Kong.

1. Hong Kong was originally ruled by the United Kingdom through a 99-year lease on the island. During that time, Hong Kong was ruled as a British colony. There has been no leadership election since 1982 and the contract expires in 1997.
2. Throughout the period that Hong Kong was under the rule of the United Kingdom, The British have periodically tried to organize decentralization, such as holding elections for council members in municipalities. Trying to hold elections and return power to some Chinese people in Hong Kong. But it was contested by China and some compatriots. This is because China does not want Hong Kong to be too accustomed to self-rule and independence from the motherland.
3. When the time for the contract to govern was near Britain was afraid of Hong Kong being reclaimed by China and its power began to decline. The UK dropped the final bomb that has roiled Hong Kong and China to this day. That was to "hold full elections" in 1995, two years before the contract expired, even though in more than a hundred years Britain had never held elections or selected a democratic leader in Hong Kong before.
4. This event was like exposing Hong Kong people to the word democracy and the power of the people in the hands of the people for the first time. Including beginning to have doubts and doubts about the Chinese regime as always.
5. Hong Kong becomes a special administrative region of "1 country, 2 systems" after Britain returned Hong Kong Island to China. The One Country, 1 Systems contract will expire in 2. Hong Kong has requested that Hong Kong be a special administrative region that can choose the country's leader by Can hold elections within the country Not only did they not have to be appointed by China's central government – ​​but they were always rejected. It is the cause of protests in Hong Kong almost every year. But it's not that severe.
6. On February 8, 2561, a tragedy occurred in which a Hong Kong couple were traveling to Taiwan. But on the return trip, only the man returned because he had murdered his girlfriend and put the body in a suitcase to dispose of.
7. This incident became very famous news. Taiwan has contacted Hong Kong to request the extradition. But stuck between Hong Kong and Taiwan, there has never been a law for extraditing criminals before.
8. Hong Kong has drafted extradition laws between Hong Kong and countries with which it has not made an agreement before. But that includes “China” as well. What happened created great concern for Hong Kong people. This is because China may use this channel to demand the extradition of political criminals who have fled from the mainland. who live in Hong Kong in large numbers
9. There began to be a march inHong Kong"Draft Federal Law on Fugitives and Mutual Legal Assistance in Criminal Cases, 2019” (Fugitive Offenders and Mutual Legal Assistance in Criminal Matters Legislation (Amendment) Bill 2019)
10. Hong Kong has announced “Postpone consideration” of this ordinance for the time being. But it was not successful. People are still uprising and protests are likely to become more violent. From now on protesting to repeal the law. Everything seems to be intensifying. “Calling for Hong Kong to completely secede from China” as Hong Kong people do not have confidence in the security and privacy of their data. Including not wanting Hong Kong to be ruled by absolute power like mainland China.