The Chinese women may build the Blockchain and crypto industry
“Dama” is a Chinese word used in reference to married middle-aged Chinese women. These women are business savvy and have made impacts upon markets in the past.
Damas are key opinion leaders in the investment world. Reporters claimed that Damas has always been at the forefront of major investment ideas in China. This is because they are always updated on investment opportunity trends. The user further alluded that there were always opportunities anywhere Chinese Damas are seen.
Reports of past investment enterprises show that Damas are financially capable of making major investments. When the global gold prices experienced a drastic drop in April 2013, Chinese Damas reportedly purchased 100 billion yuan worth of gold in ten days. This is about $15.79 billion. The purchasing drove up gold futures in New York with about 2.7% increase on the 26th of April, 2013.
This feat was globally lauded and the Damas were regarded as the winners who succeeded in defeating the entire Wall Street. Reports indicate that Goldman Sachs, a top investment bank, had to abruptly end its short-selling of gold features as a result.
The investment ability of Damas also extends to real estate. They have driven up prices of real estate to extremely high levels. This made the government impose strict regulations to curb their activities.
Will Dama Power touch Blockchain?
The business-minded Damas are beginning to get involved in blockchain technology. Their sudden interest in this technology has made analysts and investors wonder. What could their involvement do to the growth of the blockchain technology?
Sometime last month, pictures of Chinese Damas who were in attendance at the World Blockchain Conference in Macau surfaced online. This was accompanied by many comments on social media platforms across China. “Blockchain dama” became a frequently searched phrase on Weibo- China’s answer to Twitter. A blog on sohu.com said that the Damas embracing blockchain made him worried at his tech ability as a millennial.
The Damas have started turning to bitcoin investment since the end of November 2013. A report on China.org, which was released that same month, revealed that a lot of VIP customers who were into Chinese bitcoin exchanges were Damas.
In an article posted on sohu.com, a dama from Wenzhou said that she did not know about it but wanted to invest as others were. She acknowledged that she was taking a risk, but felt secure.
The statistics on the extent of investments which Chinese Damas have made into bitcoins remain uncertain. There have been several arguments that the Chinese Damas could be a major force in the development of rising technologies.
Some experts referred to the Damas’ attendance at the Blockchain conference as a joke. However, an article on ittime.com indicated that they could play key roles in the general development of blockchain technology.