Chinese President Xi Jinping Calls Blockchain a 'Breakthrough' Technology (cnbc.com)

Even as cryptocurrencies continue to draw skepticism from some, at least the underlying technology, blockchain, has found yet another high-profile admirer: Chinese President. Xi Jinping said in a speech this week that blockchain has "breakthrough" applications. From a report: "A new generation of technology represented by artificial intelligence, quantum information, mobile communications, internet of things and blockchain is accelerating breakthrough applications," he said Monday, according to a translation of his remarks. Xi also emphasized the need for China to focus on technological development and become the global center of science and innovation.

Comments

Re:This is all diversion

[LynnwoodRooster]

China has always been a fascist oligarchy, like pretty much all Communist nations end up (or, more accurately, start at and never move beyond). A small group of families run everything, and maintain dictatorial control via 100% State control of key industries. China still does this - complete control of communications, steel, transportation (air and rail), banks, and a few other key industries. It also maintains strict controls on the flow of currency in and out of the country, as well as goods and services; not just tariffs on imports, but required tariffs and controls on exports.