A year ago, the Chinese Communist Party published and distributed blockchain technical manuals to party officials and members of the party with the goal of helping government agencies and the whole party better understand the blockchain.
The manual begins with an overview of the origins and features of blockchain, ranging from the areas and challenges to which blockchain technology is applied now and in the future, and the impact that blockchain technology will have on management and justice.
At that time, Xi Jinping noted that blockchain is a key element of the technological revolution that China must seize in order to thrive in the global economy.
Now, A year later, Bitcoin is facing a new phase by Xi Jinping's new comments. He emphasized that "China should take the lead in the blockchain sector." on October 24th.
Why did he start to strongly encourage China's blockchain business again? This is because one of the core industry uses blockchain technology. China wants to take the hegemony of the fourth industry from the United States.
China intends to issue cryptocurrency led by the government. China wants to adopt China's own cryptocurrency as its standard, not Bitcoin.