Chinese media has warned that several local companies have been suspected of blockchain speculation following President Xi Jinping’s blockchain push exerted last month. Last month, Chinese leader Xi Jinping declared that blockchain technology is a crucial breakthrough and that China would seize every opportunity it gets to support research, development, and standardization on the blockchain. And while this nascent technology did prove its worth several times before by bringing about never-dreamt-before transformations in some industries, the strong endorsement from the first world leader had an entirely different impact. Undoubtedly, his speech unveiled a cascade of activities, both negative and positive.