It's mildly racist but not extremely so. People joke about Germans not having a sense of humor and eating sauerkraut. Similar thing.
The classes were broken into companies of their own choosing, each company needed a CEO and CFO
And that's all the rules really. The general idea being that they had to do business with foreingers for bitcoin (as at the time only Westerners had bitcoin).
...Of all the students involved about 20 really made an effort or took part. And it seems to be those from this group that are continueing to use bitcoin (after counting they asked for their bitcoin back).
Interesting. So at first, China had very little to do with Bitcoin but now it's one of the countries where Bitcoin has the largest presence. Perhaps this project was what sparked Bitcoin adoption in China and explains why China is so important for Bitcoin today?