China Plans National Blockchain Network in Digital Push
The policy ties blockchain expansion to manufacturing upgrades, national data infrastructure and a push to connect the digital economy with real-world production.
- On Friday, the CPC Central Committee and the State Council announced a policy document detailing 19 measures to establish a national blockchain network and an integrated computing power network.
- The 'Opinions of the CPC Central Committee and the State Council on Developing New Productive Forces' aims to link digital technology with manufacturing, including the 'Eastern Data, Western Computing' project designed to store data in China's resource-abundant west.
- Implementation and regulation will fall to the Central Financial and Economic Affairs Commission and the National Development and Reform Commission, which will determine how the blockchain network integrates into wider Chinese digital infrastructure.
- Investor interest in China-linked blockchain project Conflux increased in response to the announcement; on Sunday, CFX hovered at $0.066, up more than 26% from Saturday's closing price.
- Despite these blockchain investments, China maintains its ban on private cryptocurrency trading, as the state-backed Blockchain-based Service Network supports enterprise applications but prohibits cryptocurrencies like Bitcoin.
22 Articles
22 Articles
China Launches National Blockchain As Part Of Wider Plan To Accelerate Expansion Of Digital Economy
Despite having a traditionally conservative stance towards cryptocurrencies, the Chinese Communist Party is moving forward with the construction of a national blockchain network as part of a wider strategy to upgrade Chinese digital infrastructure.
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Cryptocurrency News | Cryptocurrency Prices | Market CapChina plans national blockchain network in digital push
China has called for a national blockchain network and an integrated computing power network in a policy document covering 19 measures to develop technology-led industries and connect the digital economy with real-world production. Xinhua News Agency published the opinion issued…
China Details National Blockchain Network Proposal Alongside Data Market Reforms
Key Insights: China has proposed a national blockchain network as part of a new plan to connect digital technology with the wider economy. The proposal appears in a policy document containing 19 measures that Chinese authorities released on October 9. The document also calls for a nationwide computing network and changes to rules governing data […]
China’s Push for a National Blockchain Network: A New Chapter in Its Economic Strategy
China has officially called for the construction of a national blockchain network as part of its broader economic strategy, highlighting the country’s ambition to strengthen its digital infrastructure, improve economic efficiency and maintain its position as a global technology leader. The initiative reflects Beijing’s growing recognition that blockchain technology could play a significant role in […]
BREAKING NEWS: New Details Emerge in Chinese Government Announcement That Sent Away the Price of an Altcoin!
Following the Chinese government’s announcement of plans to establish a new blockchain network nationwide, Conflux (CFX), a Chinese-linked cryptocurrency project, experienced a sharp rise. The altcoin’s price increased by approximately 28%, and the volatility in trading volume was also noteworthy. A policy document released on October 9 by the Central Committee of the Communist Party […] Continue Reading: BREAKING NEWS: New Details Emerge in Chi…
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