After President Xi Jinping called to speed up the development of blockchain technology in the country on Oct. 24, blockchain-related news from China just keeps on coming as the country is seemingly eager to beat the United States (or any other country) in the race to implement blockchain initiatives. For this purpose, a special regulatory body has been created to monitor over 700 local decentralized projects, and any articles containing anti-blockchain statements are now banned.
The country’s authorities have studied the possibilities of distributed ledger technology for some time. However, at the beginning of last week, the blockchain policy in China took a more aggressive course. During a Politburo Standing Committee session, the head of state called on government institutions to immediately begin implementing a program to integrate blockchain into the country’s economy and its IT sector.