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.