China’s President Xi Jinping Says Blockchain Is Part Of New ‘Technological Revolution’

President of China Xi Jinping straightforwardly applauded blockchain technology during a speech May 28, as the innovation keeps on establishing itself in the nation’s future arrangements.

Talking at the Chinese Academy of Sciences’ nineteenth yearly conference in Beijing, Xi included blockchain as an instance of another age of technologies through delivering ‘’ breakthrough.’’

“Since the 21st century began, global scientific and technological innovation has entered an unprecedented period of intensive activity. A new round of scientific and technological revolutions and industrial changes is reconstructing the global innovation map and reshaping the global economic structure,” he stated, proceeding:

“The new generation of information technology represented by artificial intelligence, quantum information, mobile communication, internet of things, and blockchain is accelerating breakthroughs in its range of applications.”

The prominent profile of blockchain proceeds with a recent trend by Chinese authorities to grasp the technology’s capacities.

“We have established verifiable blockchain programs in China, and nearly 200 private enterprises have expressed interests to join. [This] will help blockchain technology and industry to become more transparent and open,” local media cited a government representative as saying on the theme of domestic efforts.

As Cointelegraph detailed for this month, official government feedback for blockchain projects is currently in progress, after the arrival of 26 cryptocurrencies May 17.

In the meantime, Beijing has seemed appeared about foreign blockchain projects more generally, this week claiming their normal life expectancy is only 15 months.