The Communist Party of China (CPC) has published a blockchain guidebook that observes the technology’s key features scientifically, the origins and future applications, as well as approaching challenges.
An official’s guidebook
The publication was announced on 13 August in a press release on the CPC website. The book, ‘Blockchain – A guide for Officials’, covers many facets of the nascent technology which will offer counsel to government officials.
In an excerpt from the book in the chapter ‘From Internet Thinking to Blockchain Thinking’, Ye Hao, president of People’s Network writes:
“We call on the industry peers to continue to look at the blockchain technology with a development perspective. Looking at the blockchain label from a scientific perspective, look at the blockchain industry with a strategic eye, look at the blockchain business opportunities with a calm eye, promote the sustainable and healthy development of the blockchain industry.”
The introduction of the book allows for the CPC to assist other government authorities on how to better understand blockchain, establish a common ground from which they can work together and drive adoption of the distributed ledger technology on a national scale.
The publication arrives at a time when huge levels of funding directed at blockchain are pouring in across multiple mega-city projects in China: USD 80 million for blockchain startups in Shenzhen, USD 1.6 billion in Hangzhou and USD 1.48 billion for Nanjing City.
Furthermore, the “number one urban project” in China, Xiong’an, is now set to become a “dream city“; this is thanks to a recent partnership between the latest mega-city and blockchain development firm ConsenSys.
International language of learning
Comprehensive studies that call for the widespread understanding and adoption of blockchain are emerging from every corner of the world. China’s Ministry of Industry and Information (MIIT) in collaboration with Tencent Holdings released a report detailing the numerous economical enhancements that distributed ledger technology (DLT) offers.
In Scotland, a paper was recently released, bullishly calling for the Scottish government and industries to rally around this tech and innovate alongside the rest of the world with it. Similarly, the United States Chamber of Digital Commerce also published a guidebook in a bid to generate discussion and understanding of virtual tokens, urging that regulatory policies need to develop sooner rather than later.
A top senior economist from the Bank of Canada also released an extraordinarily-detailed research paper describing the potential benefits of a central bank digital currency (CBDC). A US-based, world-leading IT industry trade association released another guidebook that gives focus to blockchain applications in the public sector.
Educational literature, backed by the world’s largest governments and industry representatives, is a boost to the credibility of blockchain. Perhaps they will also serve as a means for a global blockchain consensus at some point in the future.
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