China Turns to Blockchain
Several weeks ago, this blog reported on a letter advocating that now President Trump consider using blockchain. That post included a guide to blockchain and how it works, particularly in its most common form of bitcoin.
Apparently the Chinese find merit in that idea, as a recent report says that they have begun to utilize blockchain technology. An article from Reuters says the Chinese government is pushing blockchain in order to combat fraud in its financial sector and to make things more transparent. Demand for the technology doubled last year and is expected to continue to grow. The article also says that the Chinese are playing catch up to Western markets that are further along in blockchain investments. Chinese banks and headhunters are offering salaries of up to $175,000 for tech executives that know how to implement blockchain, according to the article. The full text of the article can be found here.