Chinese Communist Party moves ahead with national blockchain network
Officials in China are pressing on with a state blockchain system, despite the country's long-standing caution toward cryptocurrencies. It sits within a wider plan to grow the digital economy.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
China has outlined policy priorities covering quantum technology, AI and the digital economy, with blockchain infrastructure placed inside that agenda. The Communist Party is also building a national blockchain network as one piece of a broader strategy to speed up digital economy expansion.
Why it matters
The network is tied to plans to accelerate growth in the digital economy. It stands out because the party has traditionally been cautious about cryptocurrencies.
Timeline
- Oct 10, 11:53 AM ET: China outlines policy priorities for quantum technology, AI and the digital economy, placing blockchain infrastructure within them.
- Oct 11, 8:20 AM ET: Construction of a national blockchain network is moving forward as part of the wider digital economy plan.
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