China launches its blockchain in a week: What will it contain?

China will launch its own blockchain technology project in a week. China blockchain has been developing for over a year. However, anecdotal reports suggest that it is much longer in development. It is to be a purely Chinese national project to help in all sectors of industry and economy.

China’s national project: top of blockchain adoption?

China should use blockchain to reduce the burden on the state apparatus, and also as a platform for many other applications, including smart city projects and the new social credit system. Unofficial reports from democratic countries warn that technology will quickly become an instrument of the regime.

The government should work closely with individual companies. It will offer them input and transfer of the system to the blockchain to maximize their efficiency. Building a customized network for individual companies should be practically free.

The government assumes that this prize will attract schools, small, large and micro-enterprises as well as some individuals who would like to use storage or other services that are likely to arise.

Last October, when China announced its intention to build a blockchain, the Bitcoin price jumped tens of percent in hours. And setting off another bullish trend. Now the price is stagnating.

You should be interested in: BMW will share its blockchain platform with other MOBI automakers: Launch this year