Research firm International Data Corporation (IDC), in a recent report, predicted that 10% of Chinese cities would adopt local blockchain-based digital currencies by 2023.
The report titled IDC FutureScape: Worldwide Blockchain 2020 Predictions — China Implications, discusses the top 10 blockchain predictions, and their implications for China.
China is leading in the blockchain space and is likely to be the first country to release a central bank digital currency (CBDC). Support from President Xi Jinping has bolstered the sector, with the country the most prolific applicant for global blockchain patents.
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