Why Translated as Blockchain (Why Blockchain Technology Rises as a National Development Strategy)

08/13/2023 12:58 • Daily Digest • 58 views

Why translated as blockchain According to CCN news, since 2017, the total market value of Bitcoin, Ethereum, and other cryptocurrencies has dropped by more than 50% in 2018. But despite the downturn in the market, Bitcoin has still achieved great success and has always been the focus of attention. Why translated as blockchain? Because it is an English word, and the Chinese meaning is “programming.” And due to its grammatical structure and cultural differences, its uses are no less than regular translations.

Therefore, if it is understood as a distributed system, then blockchain is a decentralized technology. When we talk about decentralization, the term “disintermediation” is often used to represent the combination of blockchain technology with existing systems and as a common protocol. However, for blockchain, this does not mean complete decentralization. Instead, they represent all transactions on the network. For example, you will perform specific tasks through a node, rather than creating data from multiple points or blocks, eliminating reliance on intermediaries (such as miners).

In addition, “open source code,” also called “open source,” operates like computers on the Internet. Blockchain technology not only allows anyone to access all this information but also improves efficiency, reduces costs, and minimizes fraudulent behavior; most importantly, it realizes scalability, whether the blockchain uses smart contracts for verification or not.

Why Blockchain Technology Rises as a National Development Strategy

On July 10th, the Central Committee of the Communist Party of China and the State Council issued the “Guiding Opinions on Accelerating the Application and Industrial Development of Blockchain Technology.” At the moment when a new round of technological revolution and industrial transformation is unfolding, the “Fourteenth Five-Year Plan of the People’s Republic of China for National Economic and Social Development and the Long-Range Objectives Through the Year 2035” was officially announced.

This decision means that China is elevating national development strategy to an important frontier project, and it will have a significant impact on the future development of blockchain technology. The “Overall Idea” points out that by 2025, China’s independent innovation capability in core technological fields will be significantly enhanced, breakthroughs will be made in a number of key generic technologies, a number of internationally competitive leading talents will be cultivated, a first-class application system nationwide will be built, world-class public service platforms will be developed, and global digital currency pilot programs will be conducted. As one of the leading technologies globally, blockchain is attracting high attention from various countries. At the government level, during the “Fourteenth Five-Year Plan” period, various regions are actively promoting policy support, guiding blockchain enterprises to accelerate their layout, form their own advantageous resources, and attract more excellent teams to participate in the Belt and Road Initiative for cross-border integration with other regions. In addition, the Cyberspace Administration of China will also introduce measures to encourage blockchain development. Why does blockchain technology rise as a national development strategy? Because currently, our country’s research on blockchain is still relatively pure, with no clear direction or roadmap to follow; but with the development of various industries, we can clearly see that our country should seize the opportunity to establish a sound institutional system and mechanism to support the development of the real economy and encourage the participation of more traditional enterprises, thus better leveraging the role of the market. (Mars Finance)

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Why Translated as Blockchain (Why Blockchain Technology Rises as a National Development Strategy)

Why Blockchain Technology Rises as a National Development Strategy

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