Deputy Minister of industry and information technology people’s Republic of China (MIIT) called the blockchain mainstream technology for the new digital economy and called on the authorities to join forces to engage in its development.

These statements gobin V. Xin (Xin Guobin) spoke at the forum 2018 National Expert Forum on Manufacturing Powerful Countries. According to the Deputy Minister, technology can fix the deficiencies in the current traditional credit system, to prevent manipulation and falsification associated with information, and save costs across companies. It’s the most diverse areas: Finance, e-Commerce, and Internet of things and medicine.

Gobin V. came to the conclusion that the country needs to develop blockchain technology on an industrial scale, possible to integrate it into all aspects of society. In addition, you have to create positive institutional and regulatory conditions to achieve this goal: the Deputy Minister explained that the package of measures should include facilitating institutional constraints, strengthening formal political leadership in the field of blockchain technology and optimization of conditions conducive to its development.

Note that the Chinese government is known for its rigorous and skeptical attitude towards kriptonyte. Recently, however, many officials, as well as gobin V., spoke about technology in a positive way. So, at the end of may, Chinese President XI Jinping (Xi Jinping) has ranked the blockchain to a new generation information technology, accelerating breakthrough in science.

The Central Bank of China implements the blockchain technology into workflow, and has recently filed a patent application on a new cryptocurrency wallet. A month earlier, representatives of financial institutions announced the creation of a blockchain system for the transfer of receipts in the digital form, that is, their tokenization.

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