China Launches Blockchain Project for Belt & Road Initiative
- China defies its anti-crypto stance by launching a blockchain project for the Belt and Road Initiative.
- The project, led by Conflux Network, seeks to develop a public blockchain infrastructure to support and showcase cross-border collaborative projects.
China is known for its stringent anti-crypto policies. However, in a recent move, the nation seems to be defying its own policies.
According to crypto journalist Colin Wu, the Chinese government has launched a blockchain project named the “Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative.” The Belt and Road Initiative (BRI) by China is a worldwide strategy for infrastructure development designed to link continents via trade pathways.
Just In: The China govenment has launched a blockchain project titled "Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative". This project is led by Conflux Network. The main focus of the project is to create a public blockchain infrastructure…
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Led by blockchain platform Conflux Network, the objective of the project is to facilitate active participation by the Chinese government in blockchain-related activities, with a special focus on cross-border initiatives.
“The main focus of the project is to create a public blockchain infrastructure platform. This platform will be able to support the implementation of cross-border cooperation projects along the Belt and Road Initiative,” wrote Conflux Network in a post on X (formerly Twitter). “It will provide the base for developing applications that showcase collaboration across borders.”
Additionally, Wu also stated in a follow-up post that the Chinese government prohibits any institution from participating in cryptocurrency activities, emphasizing that the blockchain in question does not involve cryptocurrencies or any tokens.
Edited by Harshajit Sarmah
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