An influential government authority responsible for planning China's economy has said blockchain will form an integral part of the country's data and technology infrastructure.
The National Development and Reform Commission (NDRC) told reporters Monday blockchain will join other emerging technologies such as cloud computing, artificial intelligence (AI) and the internet of things (IoT) in underpinning the systems China uses to manage the flow of information in the coming years.
Originally the State Planning Commission, the NDRC is a cabinet-level department that draws up policies and strategies for the direction of the Chinese economy. It has a wide brief that covers everything from investments into public transport to running anti-monopoly probes as well as overseeing corporate debt issuance.
On how new technologies, including blockchain, would be integrated, high-tech director Wu Hao said the NDRC would "work with relevant departments to study and issue relevant guidance to promote the development of new infrastructure [and] revise and improve the access rules that are conducive to the sustainable and healthy development of emerging industries."