The National Development and Reform Commission (NDRC) of China Includes Blockchain in its Technological Infrastructure


THE National Development and Reform
Commission (NDRC) of China has included Blockchain technology as an integral
part of its Data and Technology infrastructure. The NDRC recently informed the
local press that Blockchain will now play a vital role in its technological
ecosystem along with other emerging technologies including Artificial
Intelligence,(AI), Cloud Computing, Internet of things(IoT), etc.
THE National Development and Reform
Commission (NDRC) which was formerly known as State Planning Commission is a
macroeconomic management agency administered by the State government that plans
core strategies to control the economy of Mainland China.
Statement from High –tech Director Wu
Hao:
While revealing more about the new
strategy, High –tech Director Wu Hao said, “NDRC would work with relevant
departments to study and issue 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.”
Functions and plans of The National
Development and Reform Commission
As a further stride in this arena, NDRC
subsidiary – Blockchain Service Network (BSN) has been working to provide
blockchain-based tools to develop blockchain bases applications for companies
in various sectors. NDRC also plans to open its services globally in near
future.
It has addressed issues for the
advancement of high tech industries and formulated various strategies for
distribution and application of key technical equipment.
In 2018, the NDRC had strategized various
policies to accelerate the economic and technological development, research and
statistical analysis. In 2018, it had signed an agreement with China
Development Bank for financial support of 100billion Yuan($14.1) billion) to
the companies that are working in emerging technologies such as Artificial
Intelligence(AI) and the Internet of Things(IoT).
This new strategy has been welcomed by the speculators and is assumed to promote the blockchain industry in the country.
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Jayashree Ingle
CBW - External Analyst
INDIA