China: Congressman calls for a blockchain fund to tap "new economic potential" and bolster employment

China's leaving no stones unturned in its apparent motive to become a global blockchain leader.

This past weekend, an official of the China National People's Congress suggested the parliament to increase state-budgeted funds towards blockchain development and digital currencies, terming it a "New economic potential."

As per a report on local aggregator Baidu News, Tan Jieqing of the Chinese Congress is pushing for blockchain reform in the country.

China's relation with distributed systems is rather unique - the country embraces and is setting the groundwork to become a leader in blockchain technology while shunning stateless currencies completely.

Acceptance of the bill would signal a powerful step towards blockchain investments and legislation globally.

The adoption of blockchain technology would promote smart governance and an "Honest society" in China, says Jieqing.

Also helps China seize the future global blockchain technology and industrial development The commanding heights and the right to speak better protect national sovereignty and security from the technical and industrial levels.

Jieqing seems to be a blockchain "Maximalist." The congressman is also Director of Applied Maths at the Hefei University of Technology, which presumably suggests his knowledge of blockchain systems may be more than elementary.

Part of the funds, he suggests, must be used towards blockchain demonstration and the promotion of electronic-based government initiatives, such as storage platforms.

Digital currencies can help in the smooth functioning of a public blockchain by rewarding users with tokens.