China's President Xi wants the nation to lead on blockchain, but insiders say local governments might get in the way

Quick Take

  • Since Chinese President Xi Jinping publicly applauded blockchain technology two weeks ago, businesses and local governments in China have been rushing to associate themselves with the new technology
  • A few fast-moving government agencies have already committed funds to support the development of local blockchain ecosystems
  • There are concerns that although these agencies have millions to spend, they don’t always know how to spread it around
Two Fridays ago, Chinese president Xi Jinping urged the nation to be at the cutting edge of blockchain, a rare public endorsement of the technology that might have come as a surprise to many, some of whom didn’t even have time to Google, or Baidu, what blockchain is.  Among those that may need Blockchain 101 […]

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Oct 15, 2021, 2:54AM UTC