Chinese President Xi Jinping States Blockchain Supports Social Governance
The president of China has emphasized the value of blockchain technology, stating that it could be utilized to promote social governance. According to a report from the Xuexi Qiangguo app, Xi Jinping noted that the battle against the coronavirus highlighted the need for a helpful governance model, which blockchain could help build.
An optimistic sign for blockchain coming from China
Some countries in the world have been as forthcoming towards blockchain technology as China has. China, which has one of the most significant densities of cryptocurrency miners, has produced a variety of technical committees tasked with regulating and standardizing blockchain technology.
Also, the country’s president, Xi Jinping, has often chatted about the advantages of the technology, stating it has a much higher value than crypto themselves.
And now, according to the latest report from Xuexi Qiangguo, Xi stated that it could have a significant influence on social governance.
In an article titled “How to Make Scientific and Technological Innovation Support the Public Opinion,” issued on the state-run news aggregator, Xi stated that the battle against the coronavirus outbreak emphasized the demand for a more effective governance process.
“The coronavirus outbreak hasn’t affected only the medical field but also the entire social system. It had a huge effect on public opinion, which in turn affected the general public’s reasoning and behavior.”
To fight this, Xi suggested that the government should utilize technology like blockchain to obtain a better knowledge of social events in the country, which can be applied to support decision-making processes.
Smart governance powered by blockchain
Xi wrote that technological innovation wants to promote social governance. This is why he has initiated efforts to interject new, more effective, and more creative social governance measures.
Some regions of China have combined new management and dispatching command panels that enable the areas to collect data and send help and resources in real-time. This, he described, provided reliable and effective technical support in the struggle against the coronavirus, as it secured the maximum safety of healthcare personnel and the communities they maintained.
Nevertheless, the Chinese government appears adamant about achieving new technologies into its existing “social governance” system. Xi stated that technologies like blockchain, cloud technology, and internet-of-things (IoT) could be employed to its already tight control over the flow of public data in the country.
Its efforts to utilize the burgeoning new technology have been massively scrutinized, with many citing the government of developing control over its citizens. China’s recommended national digital currency could track consumer funds and collect their data according to reports, which might put additional strain on the financial privacy of its citizens.