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International Business Times
International Business Times
Business
Marvie Basilan

China Launches Public Blockchain Infrastructure For Belt And Road Projects

blockchain China Crypto Beijing Bitcoin
China has been hostile toward cryptocurrencies for years. (Credit: Marco Verch/flickr)

KEY POINTS

  • The network is aimed at supporting multi-country deployment in projects under the BRI
  • Conflux Network, which calls itself as the 'only' regulatory compliant blockchain in China, will lead the project
  • Beijing has been hostile toward the crypto sector since at least 2017 and banned all crypto mining in 2021

China has launched what reports say is a "super-large-scale" blockchain infrastructure that will be used by the public as part of the Asian powerhouse's cooperative projects in its Belt and Road Initiative (BRI).

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