China accelerates the development of blockchain
The Chineese government orders a faster development of this technology and bets on its own social network
Chineese government began working on the national standards that will rule the use of blockchain technology in 2019. In April of this year, the authorities financed the Blockchain Global Investment Fund in Hangzhou to encourage the startups of this technology and the corresponding development board.
The Asian nation concentrates on the path that leads development along the most expeditious way. To achieve this, several government agencies work together to form the Blockchain Technology Standardization Committee in the near future.
As indicated by Yu Kequn, director of the National Information Technology Security Research Center, the blockchain technology standards program will include basic, business and application standards, process standards and methods and multiple related aspects .
China is one of the countries that have shown greater openness to the development of technologies applied to finance, with a view to staying in the global economy with the same competitiveness it has achieved so far. In fact, they bet on achieving an intelligent city, “cash free” by migrating customers to digital banking and have their own social network.
Regarding the latter, they bet on alternatives to Ethereum, such as blockchain VeChain, Qtum and others based in China. The country could be placed at the head of the Fourth Industrial Revolution.
M.Pino
Source: 25noticias
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