China Publishes Blockchain Guide For Bureaucrats

Updated On Aug 15, 2018 by Cameron Bishop

The Communist Party of China (CPC) has printed out a blockchain handbook that monitors the technology’s main characteristics scientifically, the beginnings and potential applications, as well as potential challenges.

Guidebook for officials

The publication was reported on 13 August in a media release on the CPC site. The book, ‘Blockchain – A guide for Officials’, covers numerous aspects of the budding technology which will provide advice to government authorities.

Ye Hao, president of People’s Network has provided the following passage from the book title ‘From Internet Thinking to Blockchain Thinking’.

“We call on the industry peers to continue to look at the blockchain technology with a development perspective. Looking at the blockchain label from a scientific perspective, look at the blockchain industry with a strategic eye, look at the blockchain business opportunities with a calm eye, promote the sustainable and healthy development of the blockchain industry.”

The presentation of the book permits the CPC to support other administration authorities on how to better grasp blockchain, ascertain a common base from which they can put their efforts together and drive nationwide mass adoption of the distributed ledger technology.

Future plans

The handbook arrives at a time when enormous levels of financing focused at blockchain are entering across several mega-city ventures in China: Shenzhen blockchain startups worth $80 million, $1.6 billion and $1.48 billion in Hangzhou and Nanjing City, respectively.

Additionally, the “number one urban project” in China, Xiong’an, is now expected to become a “dream city“, mainly due to a joint venture between blockchain development firm ConsenSys and the local government.

Blockchain guides in other countries

Comprehensive studies that call for the extensive knowledge and implementation of blockchain are rising from all corners of the globe. China’s Ministry of Industry and Information (MIIT) in collaboration with Tencent Holdings published a report enumerating the abundant economic advantages that distributed ledger technology (DLT) offers.

In Scotland, a document released in recent times bullishly called the Scottish government and businesses to unite around this tech and improve along with the rest of the world. Likewise, the United States Chamber of Digital Commerce also distributed a handbook in an attempt to generate discourse and awareness of crypto tokens. The handbook also suggested implementing regulatory policies as early as possible.

A higher-ranking economist at the Bank of Canada published an extensively-detailed research document depicting the possible advantages of a central bank digital currency (CBDC). A US-based, world-leading IT industry trade association published another handbook that focuses on blockchain applications in government enterprises.

Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.

Comments are closed.