The Chinese government officially announced: Blockchain network is being established

China has taken a new step towards the development of blockchain technology.

The Central Committee of the Communist Party of China and the State Council announced that a national blockchain network will be established in their joint policy document published on October 9.

According to China's official news agency Xinhua, the new plan also includes the creation of an integrated IT network across the country.

These steps aim to further integrate the digital economy and the real economy and increase the use of advanced technologies in economic activities.

Artificial intelligence and quantum technologies are also on the plan

The policy announced by the Chinese administration is part of the national strategy that aims to increase productivity and create new areas of economic growth through advanced technologies.

In this context, in addition to blockchain, it is planned to support areas such as artificial intelligence, robotic technologies, quantum technologies and 6G.

The document also included targets for developing systems for determining the ownership of data, buying and selling it, and distributing the revenues obtained from this data.

Will cryptocurrency bans change?

China's new move towards blockchain technology does not mean a change in cryptocurrency regulations in the country.

The announced document does not contain any regulations for the relaxation or removal of existing restrictions on cryptocurrency trading.

Additionally, no date was given for when the national blockchain network would be established.