Xi Calls for China to Accelerate Blockchain Adoption

 

 

 

 

Chinese President Xi Jinping urged his nation to push for accelerated integration of blockchain, citing the technology's important role in transforming industry and advancing innovation, according to a report from China’s state-run press outlet, Xinhua News Agency.

Xi’s comments came during a speech at the Communist Party Central Committee blockchain technology study session on October 24. In his remarks, Xi noted that blockchain technology applications are being extended to everything from digital finance and asset trading to supply chain management, “intelligent manufacturing” and the emerging Internet of Things.

Xi cited China’s “good foundation” in blockchain technology but said that it was necessary for the country to accelerate development and adoption throughout the economy and social spheres to keep pace with the rest of the world.

Accordingly, Xi called for the country to recognize that blockchain is an important breakthrough for innovation, decide on a clear course of action, increase its investment in identifiable key core technologies, and accelerate blockchain technology and industrial innovation.

Xi Jinping stressed that it is necessary to strengthen basic research, enhance the original innovation ability, and strive to let China take the leading position in the emerging field of blockchain, occupy the commanding heights of innovation, and gain new industrial advantages.

 

It is necessary to promote collaborative research, accelerate the breakthrough of core technologies, and provide safe and controllable technical support for the development of blockchain applications. It is necessary to strengthen the research on blockchain standardization and enhance the right to speak and rule in the world. It is necessary to speed up industrial development, give play to market advantages, and further open up the innovation chain, application chain and value chain.

 

 It is necessary to build a blockchain industry ecology, accelerate the deep integration of blockchain and frontier information technologies such as artificial intelligence, big data, and Internet of Things, and promote integrated innovation and integration applications. It is necessary to strengthen the construction of the talent team, establish and improve the personnel training system, build a variety of high-level talent training platforms, and cultivate a group of leading figures and high-level innovation teams.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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