According to the local publication, China analyzes blockchain policies that are ongoing within the country from the past few years. They conclude that there exist 32 blockchain policies that are in action. Meanwhile, 11 projects are focusing on 3 core areas: Beijing, Shanghai, and Guangzhou. Additionally, the publications state:
Blockchain technology serves the real economy, focusing on the balance between innovation, regulation and security, and clarifying the bottom line of financial stability and information security.
China is operating on a split policy toward cryptocurrencies and blockchain. The President at China, Xi Jinping praises the adoption of blockchain technology. He publicly announces blockchain as a technological preference of 21 century. On the other hand, there were many incidents that resulted in banning cryptocurrencies as well.
Back in the previous month, the Ministry of Industry and Information Technology (MIIT) at China releases a document. The document was basically to boost up the standard development for blockchain system applications covering numerous domestic industries.
Moreover, a new blockchain alliance initiates in Guangzhou city which involves 54 distinct firms. This alliance forming aims to develop and promote blockchain technology throughout the country.
Meanwhile, the Chinese government censors patent materials regarding cryptocurrencies. Recently, the book of Andreas Antonopoulos on “Mastering Bitcoin” runs at TV channel in the state of China. After which, its title modifies “Blockchain: Road to a Digitization of Assets”. They remove all references relating to Bitcoin (BTC).