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Highlights:

  • China’s Xi Jinping made a press announcement appreciating the effect of Blockchain
  • He stressed that China already has a solid foundation to build on when it comes to blockchain

In the same week that the United States Congress queried Facebook CEO Mark Zuckerberg on the motive of his company to launch a blockchain-based digital currency, China President Xi Jinping has adopted a different approach to his American counterparts.

Xi made the remarks in a meeting with the political bureau of the party’s Central Committee. The meeting is part of a workshop series held regularly by the Central Committee and Thursday’s workshop aimed at learning the current state and future development of blockchain technology. This is presumably the first time the party’s central committee collectively studied blockchain.

The President also gave attention to how China can promote research into blockchain technology and the numerous real-world cases where it could find applications, including the country’s banking and financial system.

Coming to Mark Zuckerberg’s statement abut China lead, China has also been researching and developing its national digital currency for almost five years and is “ready” to launch it in the near future. This would certainly put the US Law makers to consider Mark’s words about Libra’s adoption.


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Sudarshan M

Sudarshan M is a long time crypto-enthusiast. Pulled in by bitcoin early on, it didn’t take long for Sudarshan to divert all of his academic attention from business studies to blockchain by doing his Masters and eventually pursuing his PhD in the subject. He is currently a researcher at the University of Nicosia. He is also the author of two research papers and a book on Blockchain’s future in Education titled: An Academic Overview of Blockchain - Applications in Educational Institutions. Sudarshan is an entrepreneur, blogger, educator, researcher and an avid proponent of Dogecoin. Such coin, Much wow.

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