It should be noted that China's ban primarily prohibit mining, speculation related to crypto and their use as a mean of payment. They have never issued any ban related to the use and development of blockchain technology
Cryptocurrency speculation and blockchain applications are two different field. They are only banning and cracking down on speculative activitie and decentralized blockchain they cannot control.
Blockchain technology has many practical application, not just in speculation as we are doing today
In October 2019, Chinese president Xi Jinping in his
speech in 2019 said that in industry blockchain has vital role to play and he stress the need to expand and improve its applications. There is also increase in price of Bitcoin after this speech of Chinese president. This is also true that crypto is ban in China and as of Feb 2026, China has taken more hard
stance on it's crypto ban. Now Chinese authorities are also targeting the tokenization of real-world assets and unauthorized stablecoins linked to national currency.
Blockchain is an underlying technology, while crypto is simply an application that run on the blockchain. It has numerou practical applications in field such as supply chain management, data storage, and identity authentication. It does not exist solely to serve the crypto industry, as many people mistakenly believe
However, we must acknowledge that crypto is the application that has contributed most significantly to the popularity of blockchain.
Once again, China has only banned cryptocurrencies, not blockchain.