Xi Jinping mentions blockchain among perspective technologies

China’s head of state has publicly supported blockchain together with artificial intelligence as well as IoT, demonstrating the technological trend awareness skills. In the same speech, Xi Jinping highlighted the need of China to become one of the key digital hubs of the world. The speech has been made to the members of the Chinese Academy of Sciences and the Chinese Academy of Engineering.

The biggest current advantage of Chinese fintech entrepreneurs in comparison to their American counterparts is the close location of mining spare parts production facilities, but unlike blockchain projects, mining is not viewed by the authorities of China as something deserving recognition.

On the other hand, local blockchain businessmen are now assessing the market, with the new ride hailing platform as one of the most promising initiatives announced lately.

Xi Jinping views the technological progress of China as one of the main issues of the government, as witnessed from previous speeches made in autumn last year, yet this may be the first time he explicitly mentions blockchain.

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