The words “build a national blockchain network” have been written into a document at the highest level.
On October 9, the Communist Party of China Central Committee and the State Council issued an opinion on developing new quality productive forces, setting out 19 measures. One of them mentions the “national blockchain network” alongside the “integrated national computing network.” The news has been widely circulated in crypto circles.
The document itself says more than the headline: it does not mention $BTC or any cryptocurrency. The text focuses on integrating the real and digital economies, the data factor market, the East Data, West Computing initiative, and other topics. It also warns officials against “shifting away from the real economy toward the virtual.”
So the significance of this news isn’t about crypto prices. China launched the national-level Blockchain-based Service Network (BSN) back in 2020, but that network explicitly does not support public blockchains like Bitcoin. The relationship between the new document and BSN has not been explained.
The companies that will really be affected are domestic providers of on-chain technical services, data notarization, computing-power scheduling, and similar services—they now have a checklist they can act on.
When you see the words “national blockchain network,” is your first reaction that it’s bullish, or do you first want to know whether it has anything to do with public blockchains? #区块链 #Policy
On October 9, the Communist Party of China Central Committee and the State Council issued an opinion on developing new quality productive forces, setting out 19 measures. One of them mentions the “national blockchain network” alongside the “integrated national computing network.” The news has been widely circulated in crypto circles.
The document itself says more than the headline: it does not mention $BTC or any cryptocurrency. The text focuses on integrating the real and digital economies, the data factor market, the East Data, West Computing initiative, and other topics. It also warns officials against “shifting away from the real economy toward the virtual.”
So the significance of this news isn’t about crypto prices. China launched the national-level Blockchain-based Service Network (BSN) back in 2020, but that network explicitly does not support public blockchains like Bitcoin. The relationship between the new document and BSN has not been explained.
The companies that will really be affected are domestic providers of on-chain technical services, data notarization, computing-power scheduling, and similar services—they now have a checklist they can act on.
When you see the words “national blockchain network,” is your first reaction that it’s bullish, or do you first want to know whether it has anything to do with public blockchains? #区块链 #Policy