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Author Topic: [2018-05-30] President of China Openly Praised Blockchain Technology  (Read 46 times)
Thadeous
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May 30, 2018, 03:17:06 PM
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China’s President Xi Says Blockchain Part of New ‘Technological Revolution’

President of China Xi Jinping openly praised blockchain technology during a speech May 28, as the technology continues to cement itself in the country’s future plans.

Speaking at the Chinese Academy of Sciences’ nineteenth annual conference in Beijing, Xi included blockchain as an example of a “new generation” of technologies delivering “breakthroughs.”

“Since the 21st century began, global scientific and technological innovation has entered an unprecedented period of intensive activity. A new round of scientific and technological revolutions and industrial changes is reconstructing the global innovation map and reshaping the global economic structure,” he said, continuing:

   “The new generation of information technology represented by artificial intelligence, quantum information, mobile communication, internet of things, and blockchain is accelerating breakthroughs in its range of applications.”

The high-profile plugging of blockchain continues a recent trend by Chinese authorities to come to grips with the technology’s capabilities.

“We have established verifiable blockchain programs in China, and nearly 200 private enterprises have expressed interests to join. [This] will help blockchain technology and industry to become more transparent and open,” local media quoted a government spokesman as saying on the topic of domestic efforts.

As Cointelegraph reported this month, official government ratings for blockchain projects are currently in progress, following the release of 26 cryptocurrency ratings May 17.

At the same time, Beijing has appeared skeptical about foreign blockchain projects more generally, this week claiming their average lifespan is just 15 months.

Source: https://cointelegraph.com/news/chinas-president-xi-says-blockchain-part-of-new-technological-revolution

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May 30, 2018, 05:10:00 PM
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Technology is being praised by every one but we require countries to start legalizing the bitcoin and other crypto currencies so that more and more people can get benefit of the technologies and also the fallen market can start to get uplift and cross 15k soon. Else if we have less people then the time to rise will also slow down.


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May 30, 2018, 11:19:13 PM
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Praising crypto in such developed and populated country like China is an extremely bullish phenomenon.
Next weeks will show us how effective it is. Roll Eyes

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May 31, 2018, 12:56:23 AM
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It will increase the interest in blockchain technology. This kind of news coming from big states like China is very pleasing. Companies and states that have already invested in blockchain technology will benefit greatly from it in the future. I hope news like this keeps coming.

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May 31, 2018, 07:32:08 AM
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He did not praise technology but recognised its potential and significance .
This shows that China understands the huge potential of blockchain and will embrace it, it some level most likely in near future.

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May 31, 2018, 08:35:18 AM
 #6

Kudos to President of China Xi Jinping for acknowledging blockchain technology this statement will reaffirmed China commitment towards harnessing the potentials of the technology to the betterment of their citizens, I hope other Asians will emulate China.



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Thadeous
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May 31, 2018, 02:05:09 PM
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The State Council of China ordered local financial authorities and government-funded research centers to focus on the development of blockchain technology and accelerate the commercialization of the blockchain. Which official statement was released on May 24.

Throughout 2018, the Chinese government and the local authorities have demonstrated a pro-blockchain attitude, funding multi-billion dollar initiatives to develop blockchain-based networks. In April 2018, Hangzhou city government funded the $1.6 billion Global Blockchain Innovation Fund to finance emerging blockchain startups and development teams.

Source: https://www.ccn.com/chinese-government-orders-faster-blockchain-development-urgently-seeking-results/

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