Despite several anti-crypto policies by the Chinese government, China is still much interested in blockchain technology, recently, it approved the development of a new blockchain research centre in the nation’s capital.
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China Approves Construction of New Blockchain Research Centre in Beijing
According to local media, the Chinese government is looking to embrace blockchain technology even though its policies have been making it difficult for crypto adoption to spread in China.
As per the report, the research centre will work in collaboration with domestic universities, research institutes, and businesses in the country.
Microchip Research Institute, a Beijing-based research and development institute together with Edge Computing Research Institute will lead the research centre.
Even though China’s relationship with crypto has not been friendly enough, China and its people have been making some moves that show the leadership of the country is looking to explore blockchain technology.
For instance, the Chinese government in September last year revealed that the country accounts for more than 80% of blockchain applications filed globally, although less than 20% of the total filed are getting approved.
Also, an ex-executive at the People’s Bank of China urged China to review its anti-crypto policies in the country, adding that a total crackdown on crypto could lead to the country missing several opportunities in the modern financial system.
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