China’s long-running pursuit of being the world’s leading nation regarding blockchain technology utilization has further been reinforced by the latest five-year development plan recently released by the country. This is because, for the very first time, the word “blockchain” was deliberately mentioned as part of China’s economic priorities for the next five years, as per the local news publication Pingwest.
This most recent five-year policy plan is now the nation’s 14th release which comprehensively summarizes its immediate economic priorities. This particular 14th release firmly stresses that the ever-evolving technology will play a huge role in China’s plans for the future. And as the reports imply, blockchain is seemingly at the very center of it.
While this development may prove a bit baffling to some, considering China’s recently enforced bans on ICOs and crypto exchanges, many still believe that the nation is still at the very forefront of any crypto issuance. This is also further reinforced by China’s ongoing rollout schemes regarding its very own central bank digital currency (CBDC), the Digital Yuan.
Furthermore, the country’s digital economy is currently expected to contribute to its GDP significantly within the next few years. Experts believe that China’s emphasis on technology spending would lead to greater returns and shall establish the country as a firm global leader within the next five years.
The final version of China’s latest five-year policy plan is yet to go public, as of press time.