A few years ago, few pundits would have predicted that China would emerge as a major player in the blockchain market. The world’s largest country is defying expectations, as well as its own traditional outlook on blockchain. CoinDesk reported that China was on the verge of launching its own national blockchain platform last month.A number of interesting blockchain developments have been reported in China over the last few months. Major financial institutions such as WeBank, the nation’s first digital bank, will likely begin to rely more heavily on new blockchain developments. China’s Blockchain Initiatives Will Create New OpportunitiesDespite being home to the coronavirus outbreak, China appears to have been successful in quelling and managing the spread of the disease. This has helped to precipitate a modest economic recovery in April, despite widespread uncertainty and the suggestion that nations such as the U.S. may seek financial sanctions following the global pandemic. Interestingly, fixed-asset investment and industrial output rebounded considerably last month, while the level of decline in retail sales was also curbed following a catastrophic March.The recent burst of growth has also encouraged an existing alliance of Chinese government groups, banks and tech companies to revisit their plans to launch the ...
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