The Office of the Central Cyber Security and Information Committee of the Ministry of Industry and Information Technology (MIIT) of China has identified four basic application areas for the use of blockchain.
The five-point agenda of the Ministry of Industry and Information Technology on the adoption of blockchain is Documentation Detailed guidance was issued on Monday to accelerate the development of emerging technology industries.
As previously reported by Cointelegraph, Chinese President Xi Jinping had previously called for Rapid adoption of blockchain Back to October 2019.
The Ministry of Industry and Information Technology document puts forward the argument for adopting blockchain, describing this new technology as “an important part of a new generation of information technology.” According to the Ministry of Information Technology, blockchain is one of many new innovations such as big data and artificial intelligence, and is essential to China’s continued progress.
The Ministry of Industry and Information Technology documents economy, finance, industrialization and public services as the main focus of the country’s blockchain development.
According to the publication of the Ministry of Industry and Information Technology, traceability, data sharing, and supply chain management are some of the use cases of blockchain, which may have a significant positive impact on the real economy.
In the financial sector, the publication of the Ministry of Industry and Information Technology calls for the promotion of a greater intersection between blockchain and other emerging technologies such as cloud computing, artificial intelligence and the Internet.
The Ministry of Industry and Information Technology’s proposal for the use of blockchain in public utilities also includes concepts such as smart cities and the use of new technologies in government services. The document relies heavily on the immutability of blockchain-based ledgers to improve evidence collection mechanisms in areas such as judicial deposits, civil registration, and administrative enforcement activities.
As part of its development goals, the Ministry of Industry and Information Technology requires the establishment of at least three backbone enterprises and blockchain industry clusters. The document also deals with international cooperation, especially in the “One Belt One Road“Initiative.
Although the documents of the Ministry of Industry and Information Technology rely heavily on the adoption of blockchains, there is no mention of cryptocurrencies or tokens in general.According to reports, Beijing continues to increase its crackdown on cryptocurrencies through Weibo Ban account Some “virtual currency influencers”.