Chinese MP proposes to create a national blockchain development fund

National People’s Congress Deputy Tang Jieching Recommends the Establishment of a National Blockchain Development Fund, Which Will Be Supported by the Authorities.  

In his opinion, this technology has enormous economic potential and can stimulate the creation of new jobs. However, at present the number of organizations working in this area is small, so the MP wants to strengthen their positions and stimulate growth. To this end, he proposed to create a separate fund, which will to help «grow unicorn companies».

Tang Jieching also recommended that blockchain be included in the next five-year industrial development program and develop uniform technical standards, industrial applications, top-level design systems.  The MP believes that the distributed ledger will help modernize the management system.

Chinese MP proposes to create a national blockchain development fund

The government began to actively support the blockchain after Xi Jinping noted the importance of this technology in May 2018. for the development of China’s economy.

text: Ivan Malichenko, photo: Shutterstock

Chinese MP proposes creating national blockchain development fund

Chinese MP proposes to create a national blockchain development fund

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