Xi emphasizes the development of blockchain technology

28/10/2019

 

 

The application of blockchain technology in China has been extended to different sectors

 

Xi Jinping, general secretary of the Central Committee of the Chinese Communist Party (CPC), stressed the important role of blockchain technology in the new cycle of technological innovation and industrial transformation, urging greater efforts to accelerate development in the sector.

The application of blockchain technology has been extended to areas including digital finance, Internet of Things, intelligent manufacturing, supply chain management and digital resource trading. Against this, the major countries of the world are intensifying their efforts in planning the development of blockchain technology.

Further efforts, according to Xi, should be made to strengthen basic research and increase innovation capacity to help China gain an advantage in theories, innovation and industries of emerging sectors.

 

Xi requested a deep integration between blockchain and other information technologies

 

The coordinated approach to key activities should be advanced and discoveries in key technologies should be accelerated to provide secure and controllable technological support for blockchain development and its application, according to Xi. He underlined the importance of intensifying research on blockchain standardization to increase China’s influence and decision-making power in the global arena.

Xi also requested a deep integration between blockchain and other information technologies, including artificial intelligence, big data and the Internet of Things. The Chinese leader then emphasized the role of the blockchain in promoting data sharing, optimizing business processes, reducing operating costs, improving collaborative efficiency and building a reliable system.

 

Xi pointed out that blockchain technology should be used to enhance connectivity between cities

 

Xi also highlighted the application of the blockchain in the innovation of the digital economy, optimizing the business environment and promoting the reform of the Chinese offer and high-quality development.

He emphasized the exploration of the application of “blockchain plus” in people’s livelihoods and the progress of integrating the basic blockchain technology service with the construction of a new type of smart city. Xi pointed out that blockchain technology should be used to raise connectivity between cities in terms of information, capital, talent and large-scale credit surveys.

“It is essential that blockchain technology plays a more important role in building China’s strength in cyberspace, in developing the digital economy and in advancing economic and social development,” concluded Xi.

 

 

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