Wuhan Blockchain Software Technology Company: Is blockchain legal in China?

Is blockchain technology legal?
This is the biggest question on everyone’s mind who doesn’t understand blockchain technology. In fact, the Ministry of Industry and Information Technology has already given the answer about whether it is legal or not. Today, the Ministry of Industry and Information Technology said that China’s blockchain technology continues to innovate, and the 1316-131-7192 industry has initially formed. In the future, the Ministry of Industry and Information Technology will strengthen the connection and interaction with various departments across the country, and actively promote the healthy and orderly development of the industry. The country has clearly supported the development of blockchain. The wind is blowing. Why are you still hesitating?

However, after understanding blockchain technology, we will find that not only countries, but also many large enterprises attach great importance to blockchain technology. Tencent is doing blockchain! Alibaba is doing blockchain!! 360 is doing blockchain! Wanda is doing blockchain! Icbc in blockchain! China’s central bank is doing blockchain! 58.com is doing blockchain! Renren is doing blockchain! Kodak is doing blockchain! Thunderbolt is doing block chain! Storm is doing blockchain! Cool my music is doing blockchain!
Netease is doing block chain! Blockchain technology has the advantages of improving efficiency and reducing cost. And blockchain isn’t just a digital currency. Blockchain as a technology itself is not guilty.

Blockchain has entered China’s 13th Five-Year PlanThe 13th Five-Year Plan

During this period, the environment, conditions and connotation of global informatization development are undergoing profound changes. Look from the international, the world economic recovery and growth in the depth of the adjustment of twists and turns, and global trade continues to weaken, labor population growth, resources and environment constraints tightening, local region geopolitical game more intense, the increasing global issues and challenges, human society unprecedented level of the pressing needs of the development of information technology. At the same time, global informatization has entered a new stage of comprehensive penetration, cross-border integration, accelerating innovation and leading development. The intergenerational cycle of IT innovation has been significantly shortened, and innovation vitality, aggregation effect and application potential have been unleashed in a transformative way, triggering a new round of scientific and technological revolution and industrial transformation at a faster pace, in a broader scope and at a deeper level. New technologies, such as the Internet of Things, cloud computing, big data, artificial intelligence, machine deep learning, blockchain and biological genetic engineering, are driving the evolution of cyberspace from an interconnected cyberspace for everyone to an interconnected cyberspace for everything. Digital, networked and intelligent services are everywhere. The physical and digital worlds are increasingly intertwined, and the global governance system is facing profound changes. Accelerating innovation in information technology and maximizing digital dividends are widely regarded by global economies as the key engine for tackling instability and uncertainty in growth, deepening structural reform and promoting sustainable development in the post-financial crisis era.

Miit promotes the healthy and orderly development of the blockchain industry

Xinhuanet.com reported that at present, China’s blockchain industry ecology has initially taken shape, and the number of enterprises is rapidly increasing. According to the “White Paper on China’s Blockchain Industry 2018” previously released by the Information Center of the Ministry of Industry and Information Technology, by the end of March 2018, the number of blockchain companies in China with blockchain business as their main business has exceeded 450, and the industry has initially formed a scale. With the innovation and development of blockchain technology, the practical effect of industrial application has gradually emerged. According to miIT, blockchain applications are gradually extending from the financial field to entities and services, including electronic information storage, product traceability, Internet of Things, intelligent manufacturing, supply chain management, etc.

Many platform companies and Internet companies are trying to transform existing scenarios and services with blockchain technology. Take tourism as an example. Not long ago, Star Ox Travel announced the launch of a blockchain tourism integrated platform to build a transparent and credible travel ecological chain through a decentralized service system. Leading Internet companies such as Baidu and Alibaba are using blockchain technology in finance and public welfare.

The Ministry of Industry and Information Technology (MIIT) pointed out that the blockchain industry is still in its early stage and the positive value of technology is gradually emerging, but there are still risks that cannot be ignored in the development process, such as possible challenges to the current institutional norms and technical loopholes. The Ministry of Industry and Information Technology (MIIT) proposed to accelerate the innovative application of blockchain technology, especially to enhance computing capacity, storage capacity and integration and penetration capacity, to build a good industrial ecology and promote the healthy development of the blockchain industry.

In short, blockchain technology is legal and innocent.