Chinese Communist Party publishes blockchain guide

People's Daily, the mouthpiece of the Chinese Communist Party, has published a guide for blockchain titled, "Blockchain — A Guide for Officials." The guide consists of 20 articles meant to help officials understand blockchain technology, according to a report by Quartz.

The guide identifies blockchain as a decentralized ledger that empowers the public, something that the Chinese Communist Party has historically viewed negatively, according to the report.

China has had a lukewarm relationship with cryptocurrency and blockchains. Chinese President Xi Jinping recently endorsed blockchain technology, but the government has banned cryptocurrency trading and ICOs.

"I think [trading and ICOs] became a bit out of control organically," said Jehan Chu, founder of Hong Kong-based Kenetic Capital, a cryptocurrency investment and advisory firm. "This is China's way of resetting … they want to clean it up, organize it, have the correct licensing."