At the Two Sessions conference in Beijing, a lawmaker from China presented a proposal that argues for the nationwide development of blockchain infrastructure to support government services and the nation’s economic sectors.
According to sources, Dong Jin, a member of the National People’s Congress, has formally proposed improving China’s blockchain infrastructure and developing industry standards to assist a variety of domains, including government services, supply chains, and trade.
Jin, who is in charge of Beijing’s national blockchain research center, emphasized how blockchain technology may be used to manage the enormous amounts of data produced by China’s rapidly expanding digital economy.
As per the sources, the idea endeavors to create a blockchain-driven system meant for many sectors, including energy, supply chain financing, and maritime transportation.
Although mining and trading cryptocurrencycurrencies are still prohibited in China, the nation is actively investigating and funding blockchain technology and the digital economy. Prominent Chinese companies engaged in blockchain projects include Tencent and Alibaba.
