Blockchain work continues apace in China. Its central bank opened a digital currency research institute, shortly after releasing new details about a forthcoming five-year development plan in which it specifies a development push for new technologies such as blockchain and AI.
A blockchain research lab is also being set up in Shenzhen by a group of research institutions and Zhaolian Finance, one of the largest firms in China’s consumer finance sector. The aim is to investigate the potential for blockchain to combat fraud.
And the Bank of China announced that it is partnering with Tencent, one of the country’s biggest internet companies, to create a joint research space aimed at investigating the potential role of blockchain technology in financial applications.