These meetings have taken place since May 22nd.The National People’s Congress (NPC) is China’s highest legislative body. Almost 3,000 delegates from across the country meet once a year to submit proposals during the meetings. According to a May 23 report from Beijing News, NPC representative Jieqing Tan proposed setting up a special fund for the development of the blockchain industry. If accepted, this fund would be run by the government.The aim of the fund is to support the development and growth of a number of promising blockchain companies, to promote innovations in the field of blockchain technology and to promote a number of unicorn companies in the blockchain sector, says Tan.
Smart governance through blockchain
By supporting the development of the blockchain industry, Tan believes this will “modernize” the country’s governance system.According to Tan, blockchain technology will not only be a great tool to get China to adopt a smart, high-confidence smart governance, it will also help China gain the upper hand in the future development of the technology worldwide. He believes that taking this technological innovation leadership will help China better protect its sovereignty and national security.