Communist Party in China Educates Officials About Blockchain

Communist Party in China educates officials about Blockchain via the published book entitled “Blockchain – A Guide for Officials.” The Party has explained the origin and features of Blockchain and its applications.

13 August, AtoZ Market The Communist Party in China is planning to make Blockchain education a standard across public offices. It has issued a publication of an explanation for members and officials. 

Communist Party in China Educates Officials About Blockchain

The publishing house of the party’s new outlet, People’s Daily, has issued a book that is entitled “Blockchain – A Guide for Officials.” Local reports state that the Communist Party has explained the origin and features of Blockchain. It then moved to discuss the current and future applications and challenges the technology brings to the legal and business world. 

As per the report, the key aim is to aid government officials to better understand the concept of Blockchain. The initiative emerges as a part of a wider effort to encourage the development and adoption of the technology.

The head of People’s Daily, Ye Zhenzhen, has written in the book:

“The biggest impact of blockchain lies in its operation mechanism … which seeks to achieve consensus as a way to govern a community. It offers us a brand new angle to think about and resolve different problems.”

China Blockchain Stance

The effort emerges following Chinese President Xi Jinping acknowledging the potential of Blockchain earlier during one of his public appearances. At that time, he has noted that Blockchain is among several breakthroughs that have changed the global economy. 

In the meantime, the fourth largest bank in the world in terms of assets, the Agricultural Bank of China (ABC), has reportedly issued its first loan on Blockchain. 

According to local news outlets, the Chinese governmental bank ABC has announced it issued a loan worth approximately $300,000 backed by a piece of agricultural land in the Guizhou province. Specifically, one of the “Big Four” Chinese lenders will “buil[d] blocks with local people, pilot land and resources bureaus, and agriculture and animal husbandry bureaus,” through the blockchain system, adding that the loan aimed to “support the local tea industry.”

Think we missed something? Let us know in the comments section below. 

Share Your Opinion, Write a Comment