The South China Morning Post reported that China had approved the construction of a Blockchain research centre in Beijing, building towards its goal to be a hub for blockchain within Asia.
- This center will create links with universities here to create a large research system, thereby ensuring optimal operation of this center. At the same time, this also opens up unlimited development possibilities for students and researchers working in this field in Beijing.
- The stated mission of this centre is to break through and develop current blockchain technologies. The research results will continue to be developed and re-applied to this industry in the “country of billions of people”. In addition to in-depth research into blockchain, China wants to find ways to integrate it into people’s daily lives and develop the country’s economy and individual livelihoods.
- China has seven provinces developing this industry: Zhejiang, Chongqing, Beijing, Chongqing, Jinan, Guangzhou, Suzhou, and Henan. Still, the favour of the Chinese government can be seen when deciding to build a research centre in the capital Beijing.
- This action of China comes when the country still has a “lockdown” order on cryptocurrencies. Recently, Chinese economist Huang Yiping urged the government to re-evaluate its cryptocurrency ban – citing long-term backlash.
