Blockchain is now an official part of China's technology strategy.

[Seerge]

China is indeed a developed country that always follows the development of increasingly sophisticated and modern technology. Blockchain does provide a lot of convenience in doing work, it is faster, safer and cheaper. Therefore now China is using this technology, to continuously improve their economy. And I think this will be followed by other large and developed countries in the World.

[TomPluz]

This has been going on for a long time, even as China has repeatedly banned many ICO projects in its territory. We can see the strong growth of Binance, the large scale of mining industry in China - this is impossible to achieve if the Chinese authorities really handle it thoroughly. China has studied Blockchain, making it an important part of the yuan's CDBC launch strategy.

It looks like the introduction of blockchain technology in China has become part of their government development program for the country. But what's really interesting is that their digitized yuan is said to be not based on blockchain technology. China is planning to officially launch its stablecoin at the opening of the Olympics in February. We still have insufficient information about their digitized yuan and it is very interesting how the population of the country will perceive it.

The introduction of digital yuan in China can be considered as the biggest experiment of a CBDC and its success can be copied by many other countries...or its eventual failure can be a big lesson to all. However, knowing how good are the Chinese in almost all aspects of anything, am sure the government will be doing all it can so there can be a massive adoption of this new form of money by the masses. This is one big reason why China made the big ban on any form and type of digital currencies because they don't want unnecessary competition. While China is a big fan of the blockchain technology, it hates cryptocurrency so much and will never allow any coin/token to be on its way.

[Alcor]

The introduction of digital yuan in China can be considered as the biggest experiment of a CBDC and its success can be copied by many other countries...or its eventual failure can be a big lesson to all. However, knowing how good are the Chinese in almost all aspects of anything, am sure the government will be doing all it can so there can be a massive adoption of this new form of money by the masses. This is one big reason why China made the big ban on any form and type of digital currencies because they don't want unnecessary competition. While China is a big fan of the blockchain technology, it hates cryptocurrency so much and will never allow any coin/token to be on its way.

I agree that in China, the introduction of blockchain technology has even become one of the state programs after the top political leadership of the country called for the introduction of this technology. Therefore, for the issuance of patents for inventions using blockchain technology, China took first place some time ago. True, a slightly incomprehensible story came out of the release of the digitized yuan. Earlier they wrote that the digitized yuan does not use blockchain technology. Although the digitized yuan was launched back in February, there is currently very little information about how effectively it works.