• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

China Develops Blockchain for Unified National Infrastructure

user avatar

by Giorgi Kostiuk

3 months ago


China has announced plans to integrate blockchain technology into its national digital infrastructure, aiming to establish a trusted data circulation ecosystem.

China's Digital Strategy

China has proposed utilizing blockchain and smart contracts as part of its new national initiatives, highlighting their importance in the newly released 'Guidelines for the Construction of National Infrastructure'. The goal is to initiate data infrastructure projects by 2029, creating a unified reliable infrastructure for processing digital identifiers and transaction certificates.

China's Stance on Cryptocurrencies

Since 2017, China has taken a clear anti-crypto, pro-blockchain stance. Despite the existence of companies like Bitmain, in 2021, the government banned all crypto-related activities. A recent legal clarification confirmed that holding cryptocurrency is not prohibited for individuals; however, commercial activities involving it remain illegal. Research by Chainalysis indicates growth in Chinese OTC platforms, with nearly $50 billion in transactions in the first two quarters of 2024.

Prospects for Blockchain Implementation

While cryptocurrencies remain popular in China, regulatory measures continue. Hong Kong's recent move to adopt cryptocurrency may prompt a policy shift in the mainland, but this is unlikely at present. Nevertheless, China may reconsider its stance if the changes align with BRICS goals and national objectives.

Implementing blockchain technology in national infrastructure could play a crucial role in China's modernization by ensuring the security and reliability of digital operations. However, the country's stance on cryptocurrencies remains firm despite global changes and its domestic popularity.

0

Share

Other news

Bitcoin Price Decline Following Tariffs: Market Overview

Bitcoin's price fell by $6,000 after new US tariffs, causing cryptocurrency market volatility.

user avatarGiorgi Kostiuk

a minute ago

How New Tariffs Impacted the Cryptocurrency Market

Trump's new tariffs caused a market drop, leading to XRP losses and gold price surge.

user avatarGiorgi Kostiuk

2 minutes ago

How the Tokenized Warehouse Will Change Logistics in El Salvador

El Salvador completed its first tokenized warehouse, marking a new phase in the country's digital infrastructure.

user avatarGiorgi Kostiuk

2 minutes ago

Bitcoin Under U.S. Tariff Pressure

Bitcoin market is under pressure due to US tariff hike. Risk analysis for the market and potential price growth and decline.

user avatarGiorgi Kostiuk

2 minutes ago

EY Enhances Nightfall: Transition to Zero-Knowledge Rollups

EY updates Nightfall with Zero-Knowledge Rollups amidst growing demand for blockchain privacy solutions.

user avatarGiorgi Kostiuk

3 minutes ago

RLUSD's Rise in the Crypto Market

RLUSD issued over $100M since April, challenging USDT and USDC

user avatarGiorgi Kostiuk

3 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.