On Friday, it was
reported that the president of China, Xi Jinping, had overseen a government study on innovation and blockchain. In a speech, he said that blockchain technology plays a vital role in industry, and emphasized the need to expand and improve its applications.
In a rare show of support from a world leader, Xi advocated for the use of distributed ledger technology (DLT) particularly in the digital economy. He pointed out that China has a
leading role in its development, which is indeed partly thanks to institutional backing.
The nation has integrated blockchain in various state-owned or managed sectors such as
customs,
healthcare, and
banking. The central bank’s
digital currency project, which involves extensive state support, is perhaps the most high profile.
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