A Chinese bitcoin app developer says he has come up with a clever way to make money off the digital currency.
In a series of tweets on Friday, Zhou Yuan, CEO of digital currency platform Qihoo 360, described his company as a “digital wallet” for users.
In China, digital currency has been illegal since June and is controlled by a tiny minority of people, but Zhou has been in the digital world for more than two decades.
“The biggest challenge I faced was to keep the company alive,” he said.
“So I started to think about what are the other things people could do with digital currencies, and I started thinking about what other things could be done with digital money.”
In 2017, the government banned all bitcoin exchanges, including Qiho 360, and a few online services including WeChat.
Zhou’s company is also developing an app that can be used to store digital currencies for later use.
“My goal is to make the best money I can from this business,” he added.
“When I was young, I used to have some savings and now I am working on making a lot of money.”