China launches national blockchain center
On May 10, the National Blockchain Technology Innovation Center, first announced in February, officially started its work in the Chinese capital city of Beijing. The centre will work with universities, think tanks and enterprises to promote blockchain in China and train more than 500,000 DLT professionals.
This centre will accelerate the construction of large-scale blockchain computing power clusters. The aim is to connect various blockchain applications in China into a unified network. This greatly increases innovation and competitiveness.
China is exploring its digital economy and exploring ways to develop artificial intelligence. This is part of an effort to reduce its reliance on high-tech hardware, primarily imported from the US. The country is pursuing a central bank digital currency project, expanding cross- border trade.
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