At the Guangxi Autonomous Region’s “Lianghui” or “Two Sessions”—the region’s most important annual political sessions comprised by the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC)—one topic received a brighter spotlight this year: blockchain, the Guangxi Daily reports.
“Blockchain is recognized globally as the most influential technology to the development path of Web applications, and is recognized as the ‘fifth disruptive computing paradigm’ innovation,” said Liu Jian Hong, Deputy Secretary of Science and Technology Department of Guangxi Autonomous Region and a member of the National Committee of CPPCC. Liu pointed out that regions across China are speeding up the development of blockchain technology and laying out plans for the next generation IT industry, up to this point there hasn’t been a clear winner as to who has the competitive edge in developing the technology, and so Guangxi should not miss out on the opportunity.
Liu also added that if blockchain strategy is fully implemented, it would not only bring new industry, funds, and talents into Guangxi, it would become a new driving force to transform current industries.
The development of blockchain is becoming one of the most discussed topics during a national-level meeting is perhaps a bit eye-brow raising considering that China had recently banned ICO funding and stopped crypto exchanges activities. And the current regulatory climate in China is leaning towards hindering the growth of the technology in the country.
Nonetheless, conversations on how the region will actually implement plans for the development of blockchain and what is needed to create a more enabling environment for blockchain businesses might follow the proposal. Of course, to integrate the technology into industries in breadth and in depth will be a future challenge for any local government.