China’s Communist Party is making a different move by making public offices blockchain literate with the help of publishing a book on blockchain technology for the officials and other members.
According to a report, the publishing house of People’s Daily released the book which titled “Blockchain – A Guide of Officials” on Monday 13th August 2018. The book explains about the genesis of blockchain technology, its features, its entry into the market, current and future applications as well as the challenges it brings to the legal and business world.
The main vision of this book is to educate the government officials about blockchain technology and its adverse use for the development and adoption of the technology reports People’s Daily.
The head of People’s Daily, Ye Zhenzhen told “The biggest parameters that indulge blockchain is about its operation mechanism which helps in achieving a consensus that will further help to govern a community. The technology offers a brand new insight through which one can think about different areas and resolve different issues efficiently.”
The blockchain technology becomes viral when The President, Xi Jinping addressed the potential of blockchain in his speech and spoke regarding the impact of it. He also talked about the implementation of blockchain technology and its breakthroughs for reshaping the global economy.
The book has gone live (In Chinese) in the market last month and the party seems to be more happy and excited for the people to look into it. As described by the Chinese e-commerce website JD.com the books has the contents of around 20 articles which has been published earlier in a state-run media such as Economic Daily, Guang Ming Daily, and People’s Daily, etc. The authors of the book include heads of various financial media groups, entrepreneurs, and other blockchain experts. The articles in the book explain about the possible application and potential of blockchain in the finance industry as well as the challenges the government organizations are facing to regulate the industry. The book also explains about the trading made by alternatives to the rules which are fixed by everyone.
Last year, the trading of cryptocurrency and ICOs were banned by Beijing and earlier this year they have gone for the ban of Bitcoin mining. Despite this, Chinese president Xi Jinping endorsed the blockchain technology officially as it will deeply affect the fate of the country.
Among all the millennial entrepreneurs of China, Peoples’ Bank of China may become the ruler in the blockchain market. It might soon issue its own digital cryptocurrency and become the first central bank to have its own digital asset for trading. There is no doubt about the fact that blockchain technology is emerging day by day. And there are a lot of investors who are looking to invest in the amazing technology.