China is ready to launch the new national blockchain network, the infrastructure will be operational from next April
China is ready to launch the new national blockchain network, the infrastructure will be operational from next April

By Roberto D. | CryptoFarm | 10 Jan 2020


Six months after the start of the first tests, China confirms that the new national blockchain network will be fully functional and operational starting next April; the initiative aims to create a state infrastructure that meets the needs of all those companies that will guide the transition of the country to smart cities and the digital economy.

We had already guessed that China intended to press the accelerator between November and December, when President Xi, in his keynote speech, said that the country considers blockchain as one of the most important technologies for the near future; from the declarations of intent, therefore, to their translation into reality to the Chinese it was not enough that a few weeks and now, as announced by the China Urban Regulation Innovation Forum on 7 January, we also have an official date for the launch of the new Chinese blockchain network which it is precisely April 2020.

 

The project, developed by the main Chinese state telecommunications company and the government-supported payment card network (UnionPay), will allow China to further strengthen its leadership in the blockchain industry globally and will reduce technical and economic costs associated with the development of the adoption of blockchain technology.

Meanwhile, the development of a state cryptocurrency guaranteed by the central bank (CBDC) is proceeding smoothly, as reported by a report taken on January 6 by Cointelegraph, so it is now clear that China is destined to act as a forerunner for all other large countries leading the global adoption of the blockchain between now and the next few years; the decade that has just begun, therefore, will certainly also be the one in which we will witness the emergence of this new technology, just as the decade that has just ended was the one that saw the explosion of connectivity and the spread of smartphones.


Roberto D.
Roberto D.

Born in Italy, I live in Italy, passionate about cryptocurrencies since I discovered ethereum in 2015


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