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Incorporated into China’s Strategic Requirements , Blockchain is Intensively Covered by State Media

China’s politics and law committee stated in its WeChat official account that China is striving for the number one in blockchain area all over the world.

After China’s president Xi said that the country should seize the opportunity to speed up blockchain adoption at the 18th collective study of the Political Bureau of the Central Committee on Thursday. State media in China all intensively covered blockchain one after another. Obviously, following AI, Internet of things and big data, blockchain development has become China’s strategic requirement.

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       Chinese state media like Xinhua, The People’s Daily all reported president Xi’ talk on the front page headlines

The key word of Xi’s talk is “direction definition and more investment”. It means China’s central government has always supported the development of blockchain, from now on, the development of blockchain in China will be on the fast track.

Xi’s talk pointed out that China should strive to make the country stay at the forefront of theory. China needs to accelerate core technology breakthroughs and provide safe and controllable technical support for the development of blockchain applications, thus strengthening the international discourse and rule-making power.

Since China clearly proposes to vigorously develop the blockchain industry, the follow-up regulatory rules must be launched soon. Before that, China strictly prohibited and cracked down on the issuance of cryptocurrency with the supervision is relatively single. From now on, more reasonable regulatory measures will be gradually improved with the development of the industry. And there will be special departments to track blockchain area, the most likely is Cyberspace Administration of China.

The blockchain project combined with the real economy will flourish, while armchair strategists will be eliminated, and the crypto space in China will undergo a thorough reshuffle. There is no blockchain without bitcoin. With the increasing competition of governments in the field of blockchain, more and more high-quality blockchain projects will be born. The value of bitcoin will naturally increase.

Before that, traditional media in China were particularly sensitive to terms such as blockchain, bitcoin, cryptocurrency. Now as blockchian development has become China’s strategic requirement, more traditional media will participate in blockchain news reports, and even traditional Internet media will take the opportunity of blockchain to seek breakthroughs and transformation.

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