This national committee will bring together some of the notable names in the technology industry in China, including Huawei, Tencent, Baidu, Ant Financial and JD.com.
China Issues Blockchain Standard
According to Primexbt, responding to the Government’s call, 70 researchers and experts will join the National Blockchain and Distributed Technology Technical Standardization Committee.
Researchers and experts from local governments, public research institutes, universities and supercomputing centers; and not a single business joins this committee. However, China is very serious about its intention to develop emerging technologies in accordance with the pledge of the national program made last year.
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Big bet on Blockchain
It seems that the crypto world has little interest in forming such a committee. Who would have thought that one day the Government of a country would control Blockchain technology.
However, China is pushing this more than any other country. But with an absolute stance of “only Blockchain, not cryptocurrency”. Because the end goal of the Chinese government is to create a Chinese Blockchain platform.
Now that China seems to have the COVID-19 epidemic under control, it is clear that they want to focus more on developing new technologies.
Recently, this country shows a special interest in Blockchain. A few days ago, China’s long-awaited digital yuan currency and alleged application images of the coin leaked. China plans to move most of its currency to a digital system soon.
However, this is far from the original idea of Blockchain technology, which is: decentralization, security and eliminating middlemen. Countries and businesses have found the technology extremely useful, which is why the 2020s could be the time of the stablecoin wars.
For better or worse, China is leading the way in blockchain innovation – and this could become the catalyst for a crypto market resurgence in 2020.
PrimeXBT bitcoin exchange platform news channel 