News : China National Assembly proposed to establish the Blockchain Development Fund

The Chinese Parliament has offered to establish a Blockchain development fund supported by the Government to build a better governance system.

At the National Congress of People's Congress (NPC 2020), the Chinese Parliament and the Chinese People's Political Association conference – the country's most power political advisor, began the annual sessions.

National Congress of People's Congress (NPC) – the leading legislative body of China. Includes nearly 3.000 delegates from around the country gathering once a year to send proposals in meetings.

According to Beijing's report on 23/5, Jieqing Tan, the deputy director of NPC, has proposed establishing a special fund to develop the domestic blockchain industry.

If approved, this fund will be led by the Chinese government.

The main purpose of this fund is to support development for some potential blockchain enterprises in the country.

In addition, the Fund will also support blockchain startups, encouraging businesses to develop their technology.

By supporting the development of the Chinese blockchain industry, Jieqing Tan believes that these businesses will help China to maximize the country's governance system.

According to him, blockchain technology will not only be a great tool to promote China toward the highly reliable intelligent and social governance system, but it can also help China to occupy the upper-level in the technological development in the future.

If you want so he thinks China needs to be at the top of technological innovation. A development plan for the national blockchain industry should clearly be identified early.