Xi stresses development, application of blockchain technology

President Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, has underscored the important role of blockchain technology in the new round of technological innovation and industrial transformation, urging more efforts to quicken development in the sector.

President Xi made the remarks on Thursday while presiding over a group study session of the CPC Central Committee Political Bureau on the development and trend of blockchain technology.

During the session, Xi pointed out that applications of blockchain technology have been extended to multiple fields, including digital finance, the Internet of Things (IoT) and smart production, and it is necessary for China to quicken the development of blockchain technology and industrial innovation. He added that China has a good foundation in blockchain, and the country should actively promote the integration of blockchain and economy.

Exploring the applications of "blockchain+" in fields concerning people's livelihood, including education, medical treatment and food safety, is necessary to provide smarter and more convenient public services to the citizens, said Xi.

(With input from Xinhua; top image via VCG)