China’s Blockchain Innovation and the Increasing Importance of Blockchain Infrastructure

02/19/2023 16:20 • Crypto & Markets • 114 views

According to the report, Liu Yunan, director of the National Information Center, said that at present, China’s blockchain technology innovation continues to deepen, with deep integration of digital technologies such as artificial intelligence, cloud computing, big data, and the integration of scenarios and applications in multiple fields of economic and social is also deepening, and has bred and promoted new formats and new models of digital economy such as the universe, NFT (non homogeneous token), WEB 3 (new generation Internet), The importance of blockchain infrastructure is increasing day by day. In particular, building blockchain infrastructure across heterogeneous underlying frameworks has become the core issue of the healthy and orderly development of blockchain in China. (Beijing News)

Director of the National Information Center: Building blockchain infrastructure across heterogeneous underlying frameworks has become a core issue

Interpretation of the news:

The message reports that China’s blockchain technology continues to innovate and integrate with digital technologies such as artificial intelligence, cloud computing, and big data. This integration has enabled the application of blockchain scenarios across multiple fields of economic and social development, leading to the creation of new models of the digital economy such as the universe, NFT, and WEB 3. The report emphasizes the importance of blockchain infrastructure, which has become increasingly crucial for the healthy and orderly growth of blockchain technology in the country.

The ecosystem of blockchain infrastructure in China is expanding rapidly, as the government has been promoting the development of blockchain technology to accelerate the digitalization of the economy. The country has been working on building a favorable regulatory environment and improving blockchain infrastructure in recent years. This effort is intended to create a supportive ecosystem for blockchain technology to thrive, as it is believed to be the next frontier of the digital economy.

Currently, one key challenge that the blockchain industry faces in China is the integration of blockchain infrastructure across different underlying frameworks. As a result, building blockchain infrastructure across these different frameworks has become a core issue in ensuring the healthy and orderly development of blockchain technology in China.

China’s digital economy has gradually been taking shape, and blockchain technology is at the forefront of this movement. The integration of blockchain technology with other digital technologies has created new possibilities for the digital economy. The growth of the digital economy is a significant driving force of China’s overall economic development. Hence, blockchain technology is expected to contribute significantly to the country’s economic growth in the coming years.

In conclusion, the message highlights the continued growth of blockchain technology in China, as it increasingly integrates with other digital technologies to create new models of the digital economy. The message emphasizes the importance of blockchain infrastructure, which has become increasingly crucial for the healthy and orderly growth of the blockchain industry in China, particularly the development of infrastructure across heterogeneous underlying frameworks.

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