JAKARTA - On December 29, the Chinese GOVERNMENT's Information and Communication Technology Academy, or CAICT, published a document titled 2022 Blockchain Whitepaper. According to the report, more than 1,400 blockchain companies are currently based in mainland China. Together with the US, the two countries represent a 52% market share in terms of global blockchain companies.
CAICT also revealed that around 48 post-middle school institutions across China have introduced titles and certifications related to "blockchain engineering". In the report, the agency detailed four types of blockchain technology with high app potential.
First, the settlement chain will enable transparent publication of telecommunication fees for companies such as China Mobile and China Unicom. Second, the Zhejiang Cold Chain will allow consumers to verify their food sources by scanning the product cover QR code. Third, Trusple's cross-border payment platform can help buyers and sellers get due diligence info on their partners.
Finally, blockchain monitoring platforms can help financial regulators find order irregularities among different exchanges. Major Chinese tech giants such as Tencent, Ant Financial, Huawei, and Alibaba have all created "blockchain alignments" in recent years for their respective operations.
China currently allows possession of nonfungible cryptocurrencies and tokens, or NFTs, with their legality protected in court. However, the country has banned the issuance of initial coin offerings along with digital exchanges and cryptocurrency mining.
Despite the setback, the Chinese government has included blockchain developments in its official national agenda. In October, it was reported by Cointelegraph, China's People's Republic State Council said it would prioritize cloud computing, blockchain, and AI as a means to improve government data management and services.
On December 28, Chinese officials announced that national exchanges for NFT trading and digital asset copyright will be launched on January 1.
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