Officials in China are being encouraged to make the infrastructure for blockchain technology better so it can keep up with the move to digital technology.
Dong Jin, an important member of the National People’s Congress, wants the Chinese government to support the development of blockchain technology. He thinks it will help the local economy in many ways.
Jin made some remarks during a big meeting in China called Two Sessions. This is an annual meeting of the ruling party where important political and business people come together. The talks at the Two Sessions event cover topics like money, safety, and global relationships, as well as new technologies.
Jin’s plan is to make a network using blockchain technology to help businesses share information better. He thinks the blockchain network will also help government agencies share information easily without dealing with bureaucracy.
The new national blockchain network will be very important for things like supply chains, money, transportation, shipments, and government services.
In the last few years, China’s online business has grown according to the Chinese Communist Party’s plans, but there are still some problems that could affect its future success.
Jin says that the digital economy is making a lot of important data for big companies. Jin says the data are kept in separate places because of cybersecurity and competition.
Jin wants to make it easier for different systems to work together. He thinks using one main blockchain system as a trusted foundation would help different companies share their data securely.
Jin wants to start his plans in China and then bring the blockchain network to other countries for trading and finance. Right now, China and other BRICS countries are thinking about using a blockchain system for making payments to reduce their reliance on the U. S The dollar is used for trading between different countries.
A national outlook
China has launched several plans to make sure everyone uses blockchain technology in the same way. They opened a blockchain center in the middle of 2023. In Beijing, there is a center that wants to train 500,000 experts in the next few years to make China’s talent pool stronger.
“In talent training, the center will work with top universities, research institutes, and industry leaders to train over 500,000 talented people in the blockchain field. This will help my country keep up with the fast-changing digital economy like Web 3. 0,” Jin explained in 2023.
Before the official opening of the center, the Chinese government said they will ask people all over the country for their opinions on how to make rules for blockchain technology by the end of 2025.Trying out a way to use blockchain for digital IDs.
