As China continues to strengthen its pace on the acceptance of digital currencies, more governmental bodies have shown positive interest in the financial renovation that Cryptocurrencies and Blockchain bring to the table.
Most recently, the President of the People’s Republic of China has placed his weight behind Blockchain and the CEO of Binance responded in excitement, with speculation that can be interpreted as a bullish future for both Cryptocurrency and Blockchain in China.
Making reference to the influence of the Chinese Government in the Cryptocurrency and Blockchain industry, Changpeng Zhao highlighted the consistency in the growth and adoption of Cryptocurrency upon any support shown by the Chinese government.
Back in 2016, when the Chairman of the Central Bank of China affirmed the importance of Blockchain, many Chinese companies went to prioritize digital technology. With the Chinese President showing support for Blockchain, CZ believes in the permanence of Cryptocurrencies and Blockchain in China.
His tweet read;
“Today, President Xi Jinping stated strong support (or necessity) for blockchain development by China.
Not making any predictions, draw your own conclusions. We are still here”.
Meanwhile, at the 18th collective study of the Political Bureau of the Central Committee held in China, Reports from a Chinese media outlet revealed that President Xi Jinping delivered a speech to the members of the Political Bureau of the CPC Central Committee where he extensively stressed the importance of Blockchain as an independent innovation for technological breakthrough that must be developed in order to speed up its technological use case in the country.
Pointing that Blockchain can be integrated as a social and economically valuable technology, he noted that Blockchain stretches through to many other fields such as the internet of things, supply chain management, trading of digital assets and intelligent manufacturing.
Calling on its leaders and the necessary bodies to stay updated with the trends of the Blockchain technology, Xi emphasized the need to strengthen research and regulatory policies that will be favorable to the development of the Blockchain technology.