China’s President Calls for Accelerated Adoption of Blockchain Technology

China’s President Xi Jinping has called for the accelerated adoption of blockchain technologies as an innovative step to expose more users to the cryptocurrency platform. The President announced on October 24 at a Politburo session on Blockchain technology trends.

President Xi emphasized on the implementation of the integrated blockchain technology that will help in the transformation of industries as well as promoting technological innovation. He commented,

We must take blockchain as an important breakthrough for independent innovation of core technologies, clarify the main directions, increase investment, focus on a number of key technologies, and accelerate the development of blockchain and industrial innovation.

Adding momentum to the adoption of digital currencies require a considerable amount of research and development about blockchain technology. In fact, the adoption of cryptocurrencies at such a faster rate needs a robust framework to remediate any financial risks associated with the adoption of digital currencies. As such, blockchain is the next innovational technology followed by the Internet. Big brands associated with sectors like healthcare, financial services, etc. are rapidly adopting blockchain technology, and to keep an equal pace with these sectors, more exposure in needed in these blockchain areas. President Xi, in his press release, has signaled this association with blockchain and crypto-assets.