China has made its blockchain ambitions very clear in the past few months. One of the ventures the government will focus on is a sovereign blockchain to be used by the Chinese Central Party School.
More and more details have come to light regarding China’s vision of blockchain technology.
China Apparently Needs a Sovereign Blockchain
No one will be surprised to see that a native and “sovereign” blockchain is one of the options being explored.
The Chinese Central Party School is confident that this is the only viable approach moving forward.
In a new article, it is made apparent how blockchain technology will be crucial to the future of China.
Moreover, the goal is still to achieve a use for blockchain in everyday governance.
How that will be done exactly, remains a matter of internal debate.
It is interesting to see what options will be explored with DLT in the near future.
There are still ample use cases waiting to be explored.
They all take ample research and development, however.
Reducing any level of corruption in China may require more effort than just using blockchain technology, however.
None of this will change the country’s opinion on Bitcoin or other cryptocurrencies, however.
The trading of those currencies remains banned until further notice, and may not return to normal in the near future.