“blockchain is an enhancer for economic growth”,

says the President of the People’s Republic of China, Xi Jinping

Chinese President Xi Jinping, in a recent statement, acknowledged the role of
distributed accounting technology to boost China’s economic growth. The statement was issued on Monday during the annual conference on scientific developments, which emphasized the role of new technology to position the Chinese market internationally.

According to President Jinping,

“Since the beginning of the 21st century, a new generation of industrial revolution
has been substantially remodeling the global economic structure, with the
emergence of solutions and applications with artificial intelligence, internet of
things and Blockchain making constant progress in multiple sectors”

In this statement, the president indicated his future intentions to promote the
development of new applications and projects by enabling laboratories and research
centers. However, this news comes amid regulations on the commerce of cryptocurrencies and initial coin offerings (ICOs), and as of now the authorities have kept the ground clear for the deployment of the technology that supports digital currencies.

Different startups have sought to partner with government entities to promote innovation
and creation of projects based on blockchain. For example, Albert Xuan, co-founder of Liaoyuan, clarified that despite great interest,

“China still is at a very early stage in blockchain development. even so, everything is taking a good course.”

According to the stipulations of the media in the country, the province of Guangdong
has already implemented a total of 71 projects based on blockchain technology, which
contributes 16% increase within the industries.


by Samuel Paz


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