In what reads like a rousing and motivational speech, China's President Xi Jinping simultaneously addressed the 19th Academician Meeting of the Chinese Academy of Sciences alongside the 14th Academician Meeting of the Chinese Academy of Engineering on May 28. He highlighted what he – and indeed other world leaders – believe about the potential of blockchain technology.
"Since entering the 21st century, global scientific, and technological innovation has entered an unprecedented period of intensive activity," said President Jinping. "A new round of scientific and technological revolutions and industrial changes are reconstructing the global innovation map and reshaping the global economic structure."
He went on to proclaim:
"The new generation of information technology represented by artificial intelligence, quantum information, mobile communication, internet of things, and blockchain accelerate the breakthrough in application and have bred new life science fields represented by synthetic biology, gene editing, brain science, and regenerative medicine."
Jinping's comments echoed the concept of the "Fourth Industrial Revolution" – an anticipated era defined by combining the advancements of digital technology with those of the three prior industrial revolutions, which were powered by steam, electricity, and information technology.
It was Bitcoin that initially paved the way for cryptocurrency and blockchain adoption in the country. Chinese firms have since made significant progress in the cryptospace, and the country's government has, on several occasions, voiced its interest in pioneering new blockchain solutions.
"If China is to flourish and rejuvenate," continued Jinping, "it must vigorously develop science and technology and strive to become the world's major scientific center and innovative highland. We are closer to the goal of the great rejuvenation of the Chinese nation than at any time in history. We need to build a powerful world of science and technology more than any other time in history."
On the same day that President Jinping addressed the academies, a Chinese blockchain research institute known as Banknote Blockchain Technology Research released a blockchain-as-a-service platform called the Blockchain Registry Open Platform for supply chain tracking and identity management.
Despite China's ban on ICOs, the nation remains one of the hottest locales for blockchain and cryptocurrency, perhaps surging ahead of rival nations because of an increasing focus on national initiatives related to blockchain and cryptocurrency.
Translations by Google.