China founds national blockchain organization (report)

China founds national blockchain organization (report)

reported that the Chinese Ministry of Science and Technology has approved the establishment of the National Blockchain Technology Innovation Center.

It will be based in the capital Beijing and concentrate on application cases that could boost the local economy.

In contrast to BTC, China supports Blockchain

according to the latest Cover will try to advance the financial network of the most populous country by using the application cases of Blockchain technology implemented. The center led by the MicroChip Research Institute will also work with domestic universities and research institutes in order to immerse themselves in the industry.

Collecting talents in the blockchain sector, the development of a national scientific strength and the increase in the technological skills of the locals are also on the agenda.

In contrast to cryptocurrencies, the People's Republic of China is open to explore the advantages of blockchain. President Xi Jinping is also a supporter, Proverb In 2019 that the nation "has to take advantage of the technology". He also described it as a "important breakthrough in the independent innovation of nuclear technologies".

However, this was not the case with Bitcoin and the alternative coins. The authorities banned All cryptocurrency operations on local soil in 2021, with the claim that the measure can reduce financial crime and local investors in front of the supposedly fraudulent nature of the wealth protect.

also CBDC placed on a socket

Apart from the blockchain technology, the Chinese government has actively searched for ways to develop and make its digital central bank currency (CBDC).

Es distributed E-CNY to the residents of Shenzhen, Jinan, Lianyungang and Hangzhou, so that Product were able to use as a means of payment during the spring festival. The citizens of Chengdu and Beijing received digital Yuan in the amount of over $ 10 million in 2021.

The legislator allowed the use of the CBDC during the Olympic Winter Games in early 2022 in the capital: a decision that triggered violent controversy.

The US senators Marsha Blackburn, Roger Wicker and Cynthia Lummis Dowed request The Washington politicians do not comment on products that they do not understand.

as cryptopotato registered athlete and visitors during the Olympic Games have digital yuan worth over 300,000 US dollar processed.

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