Harnessing the Power of Blockchain Technology in Modern China

Abstract

This chapter looks beyond cryptocurrencies to examine the wider usage and ramifications of blockchain technology in China. After introducing blockchain concepts, it examines China's regulatory environment and its efforts to promote confidence in digital exchanges. The chapter then delves into the specifics of China's technical implementations, dissecting enabling tools, new architectural frameworks, and emergent movements like the internet of things and big data. It examines the effects on businesses, communities, and individuals, paying special attention to the ethical and regulatory settings in which these shifts occur. The dialogue is backed up by real-world case studies that show how blockchain can revolutionize many different industries. This chapter is an effort to educate interested parties about the blockchain scene in China and its worldwide implications.