China gov’t agency announces roadmap for blockchain development – CoinGeek


A Chinese government agency has unveiled guidelines designed to accelerate the adoption and use of blockchain technologies in China.

In the latest move from Chinese authorities towards embracing blockchain, the Office of the Central Cyberspace Affairs Commission and the Ministry of Industry and Information Technology set out plans encompassing four separate areas for adoption.

The guidelines were published as part of an industrial development strategy which aims to drive uptake of new technologies around blockchain, which is seen as a key strategic aim of the Chinese government.

The position is in stark opposition to the state’s view on digital currencies, which has seen them effectively outlawed for use in the country, with the exception of China’s own digital yuan, which is progressing through various trial stages at pace.

In setting out its vision for blockchain adoption, the MIIT paper describes the technology as “an important part of the new generation of information technology.” According to the document, the main areas set to benefit from blockchain tech lie in economy, finance, industrialization and public services.

For economic impact, the guidelines cite traceability, data sharing and supply chain management as some of the key use cases for blockchain. For finance, it describes the need for greater compatibility with other technologies, including AI and cloud computing, as well as the Internet.

In the sphere of public services, the paper discusses smart cities and the increasing use of novel technologies in the delivery of public services, with immutability on the blockchain highlighted as a key area for practical use across a range of use cases.

The document also calls for the establishment of a series of blockchain industrial clusters and enterprises, which would help provide the infrastructure for greater adoption across industry and public sector functions.

The measures come as China continues to clamp down on the use of private digital currency, with news that the authorities have ordered the closure of social media accounts belonging to digital currency influencers in the country.

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About the Author: Kate