Xi Jinping presided over the 18th Politburo collective study session on October 25, on the topic of blockchain technology development. According to Xinhua he said “We must take blockchain technology as an important breakthrough allowing for independent innovation in core technologies.” He pointed out that the application of blockchain technology “has extended to many fields including digital finance, the Internet of Things, smart manufacturing, supply chain management, and digital asset trading,” and called for China to accelerate the development of blockchain and to actively carry forward its integration with the economy and society. Xi Jinping gave recommendations for making China a leader in blockchain technology innovation, including making breakthroughs in the core technology; strengthening research on blockchain standardization; improving China’s international “discourse power” and “rule-making power;” giving play to market advantages; constructing a blockchain industrial ecosystem; accelerating the depth of blockchain’s integration with cutting-edge information technologies like artificial intelligence, Big Data and the Internet of Things; and cultivating talent. Xi Jinping also spoke about integrating blockchain technology into society, including in fields such as education, employment, elder care, poverty alleviation, medical care, anti-counterfeiting, food safety, public welfare and social assistance, as well as government service.
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