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Blockchain conference suddenly shut down by police in China

Posted Apr 24, 2018

The conveners of a blockchain meeting in China which was shut down by the police have openly spoken to refute the wild fire rumor that a suspected ICO (Initial Coin Offering) scammer was invited to the gathering. This was gathered from a report made by the local news outlet, YMTMT.com on Thursday, 12th of April 2018.

The conveners of the Global Fintech and Blockchain China Summit 2018 (GFBCS), which was scheduled to hold for one day in Shanghai, China. PTP International were quoted while talking about the incident as stating that the sole excuse given by the police for their act was for “security risks”.
In their report, YMTMT quoted PTP international while addressing the participants of the events as saying “We are investigating the reasons behind the suspension of the event.”

According to the reports coming from PTP international, who where the organizers of the event, notable fintech and blockchain figures where expected at the event. The event which was scheduled to hold in three sessions was only interrupted in the morning session. And in the afternoon session attendees where denied access to the building. This event was meant to address crucial fintech Challenges, in view of the blockchain, through speeches, discussions and exhibitions. Key financial institutions as well as agents from governmental organizations where all present.

Though, it is believed that many areas of digital currency (cryptocurrency) transaction are in conflict with certain laws in China. However, fintech and Blockchain groups and organizations have proven to have their own means of walking pass law enforcement agencies in the country. This has been perceived as numerous Chinese summits have continued and are still successfully attracting the interests and presence of crowds worldwide.

Based on the different releases made by media outlets, it was gathered that there was a controversial atmosphere around the Global Fintech and Blockchain China Summit 2018 (GFBCS) as a result of the perceived attendance of an unidentified Initial Coin Offering (ICO) organizer, who has been accused for making participants lose their money in a previous ICO.

Reports made by attendees to the event, to local authorities, while the summit was ongoing, caused the unexpected appearance and action of the latter invitees, as reported by some local media outlets.

After the disruption and shut down of the summit by the police force, PTP international openly made their promise to get back to the attendees on the next date for the unfinished event and to keep them abreast in case of a possible rescheduling of the remaining section of the summit. PTP international further urged the audience to turn their faces away from rumors and to desist from spreading such themselves.

In their report, PTP international requested…“please do not spread rumors or listen to rumors propagated by unscrupulous media.” While urging the members of the audience. As it stands now, the attendees have departed to their various destinations and are waiting for possible communication of a new date for the continuation of the unfinished Shanghai Blockchain conference.