China has publicly voiced its approval of blockchain as president Xi Jinping says it is accelerating its application “breakthroughs”.
Speaking at the Chinese Academy of Sciences’ nineteenth annual conference in Beijing, Xi included blockchain as an example of a “new generation” of technologies delivering “breakthroughs.”
“Since the 21st century began, global scientific and technological innovation has entered an unprecedented period of intensive activity. A new round of scientific and technological revolutions and industrial changes is reconstructing the global innovation map and reshaping the global economic structure,” he said, continuing:
“The new generation of information technology represented by artificial intelligence, quantum information, mobile communication, internet of things, and blockchain is accelerating breakthroughs in its range of applications.”
The high-profile plugging of blockchain continues a recent trend by Chinese authorities to come to grips with the technology’s capabilities.
“We have established verifiable blockchain programs in China, and nearly 200 private enterprises have expressed interests to join. [This] will help blockchain technology and industry to become more transparent and open,” local media quoted a government spokesman as saying on the topic of domestic efforts.
At the same time, Beijing has appeared skeptical about foreign blockchain projects more generally, this week claiming their average lifespan is just 15 months.