China's national blockchain network
Where it stands now. China's leadership has called for a national blockchain network, and its new five-year IT plan says it will be basically established by 2030.
The record 2 developments
China's IT plan targets a national blockchain network by 2030
On 23 October China's Central Cyberspace Affairs Commission issued its 15th Five-Year Plan for informatisation, which says the national blockchain network will be basically established by 2030, TechFlow and ABMedia reported. ABMedia noted the plan does not mention virtual currencies or stablecoins.
Read the originals (2), usually in their own language
China's Party and State Council call for a national blockchain network
What happened. Xinhua reported on October 10 that the Communist Party Central Committee and the State Council had recently issued opinions on developing "new quality productive forces". The opinions call for building a national integrated computing power network and a national blockchain network. They also cover data property rights, a data element market and cross-border data flows.
Why it matters. According to Xinhua, as reported by TechFlow, the opinions place the blockchain network within a push to integrate the real economy and the digital economy. TokenPost reported that the Conflux (CFX) token rose 17% after the release, while noting the guidelines do not mention Conflux.
- The opinions also call for pilot projects on data, better national data infrastructure, and digital industry clusters that can compete internationally.
- They ask for a way to raise investment in future industries and share their risks, and for more long-term capital in advanced technology.
Read the originals (3), usually in their own language
- (newsletter item, no headline in material) Xinhua: CPC Central Committee and State Council opinions on new quality productive forces · TechFlow
- China orders a national blockchain network under its new economic plan · Siam Blockchain, headline translated by us
- CFX rebounds 17% after China releases blockchain guidelines · TokenPost, headline translated by us