Chinese President calls for blockchain innovation

Xi Jinping, president of China, has called for the country to accelerate its adoption of blockchain technology during a Politburo Committee session on blockchain technology, according to a report by Reuters.

“We must take blockchain as an important breakthrough for independent innovation of core technologies, clarify the main directions, increase investment, focus on a number of key technologies, and accelerate the development of blockchain and industrial innovation," Xi said during the committee.

The Chinese government has traditionally been opposed to many cryptocurrency technologies, such as its ban on initial coin offerings. However, the government has also become more positive towards blockchain technology, such as its recent guide on blockchain for government officials.