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Wednesday, November 30, 2022

China Loosens Grip on Blockchain, Debuts a Pilot Program

China may be coming full circle following its ban of cryptocurrencies in 2021 as the country is allowing some cities and entities to try out blockchain applications. 

China designated its capital of Beijing, its largest city of Shanghai and Guangzhou in the southern part of the nation as part of pilot projects designed to “carry out the innovative application of blockchain” technology. 

Officials issued a notice announcing the list of 15 “comprehensive blockchain innovation application pilots.” Local government departments, universities, banks, hospitals car companies and power companies are among the 164 entities chosen to carry out trial blockchain applications. 

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