Blockchain Gets First Mention in China's 5-Year Policy Plan
China’s 14th five-year plan outlines the country’s economic priorities and stressed that technology will play an increasingly important large role.
Blockchain technology was mentioned for the first time ever in a draft of China’s national five-year policy plan, the final version of which was approved by lawmakers and advisers at the end of an annual political meeting on Thursday in Beijing.
- The technology that underpins bitcoin and other cryptocurrency was mentioned for the first time in the lengthy document that lays out China’s goals to work toward in the next half-decade, reports the South China Morning Post (SCMP).
- China’s 14th five-year plan outlines the country’s economic priorities and stressed that technology will play an increasingly important large role in the country’s top-down planning.
- Although China has banned the trading of cryptocurrencies, blockchain will play a key role in the country’s digital economy under President Xi Jinping, the SCMP reported.
- The digital economy is expected to contribute to the country’s GDP and “transform China into a global leader” through the use of artificial intelligence, big data, cloud computing, and blockchain, according to the draft.
- The final version of the plan has yet to be made public.
Read more: NFT Art Craze Spreads to China
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
