b2b-daily
Home | FinTech | Fintech Blockchain

China Advocates Blockchain Expansion Despite Crypto Ban

Avatar photo
by Daisy Brown
March 11, 2024
Image Credit: Pixabay
China Advocates Blockchain Expansion Despite Crypto Ban

China is actively reinforcing its blockchain infrastructure despite its hardline stance on cryptocurrency transactions. In recent high-level political discussions, Dong Jing, a national blockchain expert and political figure, has advocated for the technology’s integration into China’s economy. Blockchain is seen as a way to fine-tune governmental functions and revolutionize supply chain management, with the intention of boosting trading efficacy and establishing a contemporary data registry in the vast Chinese market. While cryptocurrencies remain banned, China’s adoption of blockchain is strategic, aimed at fostering economic growth and maintaining stringent financial oversight. The country’s commitment to blockchain highlights its role as a key technological driver for future development, aligning with the government’s vision of controlled financial innovation.

Strategic Rollout amidst Cryptocurrency Clampdown

Despite banning cryptocurrency trading, China is determined to lead in blockchain technology, aiming to use it to enhance its digital economy by improving security and transparency in transactions and information. Dong Jing has called for creating industry standards to facilitate the integration of blockchain into key sectors such as maritime transport, supply chain finance, and energy. While cryptocurrencies are off-limits, China’s Two Sessions meeting made it clear that blockchain innovation is encouraged, with Beijing aspiring to become a global Web3 hub by May 2023. As part of a strategic approach, China is eager to leverage blockchain’s benefits while avoiding the risks and regulatory challenges posed by cryptocurrencies. This reflects China’s broader goal to control the essential technologies that will drive the future digital economy, steering clear of the hazards tied to uncontrolled digital tokens.

Blockchain TechnologyCryptoInformation Security

Explore more

How Did Zoom Use AI to Boost Customer Satisfaction to 80%?
March 5, 2026

When the world shifted to a screen-first existence, a simple video call became the lifeline of global commerce, education, and human connection, yet the massive surge in users nearly broke the engines of support that kept it running. While most tech giants watched their customer satisfaction scores plummet under the weight of unprecedented demand, Zoom executed a rare maneuver, lifting

How is Customer Experience Evolving in 2026?
March 5, 2026

Today, Customer Experience (CX) functions as the definitive business capability that dictates market perception, revenue sustainability, and long-term loyalty. Organizations are no longer evaluated solely on what they sell, but on how they make the customer feel throughout the entire lifecycle of their relationship. This fundamental shift has moved CX from the periphery of customer support to the very core

How HR Teams Can Combat Rising Recruitment Fraud
March 5, 2026

Modern job seekers are navigating a digital minefield where sophisticated imposters use the prestige of established brands to execute complex financial and identity theft schemes. As hiring surges become more frequent, these deceptive actors exploit the enthusiasm of candidates by offering flexible work and accelerated timelines that seem too good to be true. This phenomenon does not merely threaten individuals;

Trend Analysis: Skills-Based Hiring in Canada
March 5, 2026

The long-standing reliance on university degrees as a universal proxy for competence is rapidly losing its grip on the Canadian corporate landscape as organizations prioritize what people can actually do over where they studied. This shift signals the definitive end of the degree era, a period where formal credentials served as a convenient but often flawed filter for talent acquisition.

Is the Four-Year Degree Still the Key to Career Success?
March 5, 2026

The modern professional landscape is undergoing a profound transformation as the traditional four-year degree loses its status as the ultimate gatekeeper for white-collar employment. For the better part of a century, the degree functioned as a convenient screening mechanism for recruiters, signaling that a candidate possessed the discipline, baseline intelligence, and social capital necessary to succeed in a corporate environment.