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Chinese Government plans to start Blockchain investment development center

Pooja
Pooja

As per reports, the Investment Association Commission (IAC) a national organization registered under the Ministry of Civil Affairs of the People’s Republic of China is planning to start international Blockchain investment development center with intention to introduce industrial standards, alliance and investment funds based on technology.

In a note released a few days ago, on March 14, popular Chinese media The paper cited a photograph which apparently was a leaked government memo, about the implementation of the thirteenth five-year plan to develop innovation in Blockchain technology.

In this regard, Liu Ren, president of the Foreign Capital Committee and, in turn, vice president of the Investment Association of China, confirmed to the local media that the document is authentic, citing the increase in popularity of Blockchain technology as the stimulus to start this center.

According to the document, the plan of Blockchain based innovative technology aims for the linking of national and international resources, investment in Chinese Blockchain projects, consulting of foreign investment in technology and management of international forums, as well as the establishment of the investment development center.

Although the Chinese government has implemented several bans on trade and the use of cryptocurrencies in the country this year, it seems to be more open to the development of Blockchain technology.

The Bank of China, administered by the State, submitted an application in February this year to patent a solution to scale of Blockchain technology systems, and China’s leading retailer, JD.com, announced the launch of an incubator which will attract Blockchain projects in the international platform

Blockchainchinagovernment

Pooja

Lead writer at Wolfcone.com and avid reader. My interests lie in everything and anything related to technology. I firmly believe cryptocurrency has the power to revolutionize world economy and blockc