March 4, 2018- People’s Daily Online, the online version of People’s Daily or Renmin Ribao, an official newspaper of the Chinese Communist Party, launched its blockchain channel with four columns including news, views, insight and activities.

Earlier rumor had it that the paper’s gonna launch blockchain channel with screenshot from insiders telling blockchain editors are urgently wanted by the paper, but soon the paper denied it. Days later, its blockchain channel finally came out. It shows that Chinese rumors are sometimes not groundless, but have to wait for official voice for some reason.

It marks a notable move by China’s official mainstream media taking effort to bring blockchain to the public’s attention, and devoting to create a clean market and favorable environment for blockchain industry.

Many said that this is significantly positive for the development of the blockchain industry.

A mixed feeling of excitement, upset and anxiety are probably the true mental state of the practitioners in the blockchain industry. They are alert to the changes of the wind and afford no wrong decisions, otherwise they’ll be left empty-handed if following the wrong news. Since the ICO ban in September 2017, regulation on blockchain business has never been eased.

• On November 20, 2017, the finance office of key regions held meeting on which bitcoin mining was banned, and domestic mining farms were squeezed out and headed overseas after that.
• In early 2018, the Department of Payment and Settlement of PBoC (People’s Bank of China, the country’s central bank) released a document asking all units should shut down payment channel for accounts related to cryptocurrency and settle funds in a proper way
• On Feb.4, Chinese regulators announced to take series measures to block access to offshore crypto exchanges.

It is no doubt that regulation will escalate to rectify the blockchain chaos, but the government will also promote the development of blockchain technology and talent foster.

Aiming to be he blockchain capital of China, Hangzhou has been the first city to write blockchain into government report. Its mayor stated on the Hangzhou Lianghui or Two Sessions that blockchain is next to AI, VR and Quantum to be the heavyweight technology for the fast development of Hangzhou.

On the two sessions of the Guangxi Zhuang Autonomous Region, as many as 71 CPPCC members jointly propose that Guangxi should be the first-mover to speed up introducing and fostering blockchain industry, do research and development on the core blockchain technology to grasp the opportunity.

At present, the State Council and nine provinces, autonomous regions and municipalities directly under the central government have issued relevant policy suggestions on blockchain. Year 2018 will witness more local governments involve in the blockchain battle, and government’s promotion will contribute more resources and talents to the blockchain industry, which is obviously a great boost.