[2016-12-29]Blockchain included in China's national strategy

[hl5460]

On 28th December, China’s Premier Li Keqiang signed the Initiative of  China’s Information Technology Application, which is part of the 13th Five-Year-Plan for Social and Economic Development of China. Blockchain technology has been officially listed in the initiative. The five-year-plan is the most import national strategic guideline for China’s social and economic development. The 13th Five-Year-Plan sets the tone for China’s development for the period from 2016-2020.

http://news.8btc.com/blockchain-technology-included-in-chinas-most-important-national-strategy

[maku]

The link your provided is not longer available, all we can see now is message - Oops! That page can’t be found.
I tried to google some info about this document, but couldn't find anything.

[michkima]

The link your provided is not longer available, all we can see now is message - Oops! That page can’t be found.
I tried to google some info about this document, but couldn't find anything.

True, but if this news is really true though then it's really something. China would be the first to implement a new technology regarding finance and this would create a wave of countries following what china did. If it does happen, maybe bitcoins can also progress because of this or a negative effect is that china might make their own cryptocurrency and bitcoins would be abandoned.

[kjlimo]

The link your provided is not longer available, all we can see now is message - Oops! That page can’t be found.
I tried to google some info about this document, but couldn't find anything.

True, but if this news is really true though then it's really something. China would be the first to implement a new technology regarding finance and this would create a wave of countries following what china did. If it does happen, maybe bitcoins can also progress because of this or a negative effect is that china might make their own cryptocurrency and bitcoins would be abandoned.

Canada had its mintchip idea that (to my knowledge), went nowhere, but I agree China has a lot more weight than other countries.

We shall watch and see!

[TraderTimm]

Google translate is no help, but the chinese page exists (I think they are actively blocking google services):

http://www.gov.cn/zhengce/content/2016-12/27/content_5153411.htm

Switching to "EN" in the upper right only brings you to the main page, not the specific page.

The articles on the 5 year plan don't reference blockchain, but does make allusions to other technologies. Closest I could come was an english article posted this past summer:

http://news.xinhuanet.com/english/2016-06/27/c_135467923.htm

But that indicates further testing and exploration needed, etc... not a direct implementation plan.

[yayayo]

The combination of the words "blockchain" and "national strategy" in a single sentence is a very good indicator that the entity making the announcement has not understood the underlying concept.

It has been said a hundred times: The whole reason for using a blockchain is enabling a decentralized ledger system. It makes absolutely no sense to implement blockchains kept under centralized control, because a traditional database can serve all imaginable use cases at much better efficiency.

China is just joining the (central) banker blockchain hype muppet club. A lot of (taxpayer's) money will be wasted for a "solution" nobody will adopt.

ya.ya.yo!