China is Responding to the crypto era
China is the number one filer of blockchain patents globally and many Chinese governmental departments have been investigating how they can use the technology to streamline services. Now these departments – as well as international entities – will have a central point of reference for judging and ranking blockchain projects.
In the second half of last year, the Chinese government started to crack down on illegal ICO and trades. However, this does not represent the wholesale rejection of blockchain technology by the Chinese government; on the contrary, the technical assessment on global public chain by the CCID now proves the attention and support the Chinese government is placing into blockchain development.
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