Xi Jinping Wants China in a “Leading Position”

October 25, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

President of the People’s Republic of China Xi Jinping announced the need to “seize the opportunities” provided by blockchain technology, the local portal Xinhua reports.

Speaking at a meeting with the political bureau of the CPC Central Committee on Thursday, Xi Jinping said that blockchain can be used to solve a wide range of issues in China, from providing access to financial services and ending with poverty reduction.

Xi stressed that China must take blockchain as an important breakthrough for the independent development of key technologies. Xi also spoke about China to determine the main directions, increase investments, give priority to a number of key technologies and accelerate the development of blockchain and industrial innovations.

According to Xi China has already laid solid foundations for improving the blockchain, so that it can “take the leading position in the emerging field of blockchain.” In particular, it is necessary to standardize research in the field of blockchain, which will be the first step to establish the rules and standards of China at the world level, he added.

Earlier, the president also spoke positively about the prospects of the blockchain, however, he allegedly gave specific instructions for further development for the first time.

“Ever since the start of the 21st century, a new generation of industrial revolution is substantially reshaping the global economic structure […] with artificial intelligence, internet of things and blockchain constantly making application breakthroughs,” he said last May.

Author: Marko Vidrih