Blockchain with Chinese characteristics: China to launch a new research center in Beijing China Beijing crypto
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According to a report from China Daily, the Chinese government established the research center as a way for the country to experiment and develop technological breakthroughs related to blockchain while simultaneously maintaining a ban on cryptocurrencies. The Beijing Academy of Blockchain and Edge Computing – which is most well-known for developing Chang’an Chain or ChainMaker blockchain – has been tasked with running the new institution. ChainMaker is backed by a consortium of Chinese businesses, most of which are state-owned, including China Construction Bank or China Unicom.
The launch of the innovation center is part of China’s push to develop “blockchain with Chinese characteristics,” as the nation looks to advance and integrate blockchain technology without the cryptocurrency aspect that is viewed as a threat to the country’s financial ecosystem.
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