A new blockchain committee has been <a href="https://www.scmp.com/print/tech/blockchain/article/3080259/china-enlists-huawei-tencent-ant-financial-national-blockchain" target="_blank" rel="noopener">formed </a>by China, which compromises of the elite firms and the biggest hi-tech companies the country has to offer.  The move is made to inject more pace and improvement of the usage of blockchain technology.

A statement by the  Ministry of Industry and Information Technology (MIIT) was released a few days ago and it highlighted the members of the committee. The group consists of some elite names such as telecommunications equipment maker Huawei Technologies, video games and social media powerhouse Tencent Holdings, Chinese online search market leader Baidu, fintech company Ant Financial Services and e-commerce giant JD.com.

according to a statement released earlier this week by the Ministry of Industry and Information Technology (MIIT).

More than 70 MIIT researchers and experts would be grouped together, and the list will also have members from the local governments and other hi-tech firms and brains of the state.

While there's ambiguity about how the group would function and operate, Chen Zhaoxiang has been named the chairman of the blockchain committee.

While the big firms involved are yet to come out and speak and define how they would go about their business, it is believed that move lead by MIIT is to enhance the adoption of blockchain in the country, something which they've been so hell-bent to do ever since the country's president  Xi, defined blockchain as the future of technology.
<h2>Blockchain Technology Adoption and Usage Priority of The Country</h2>
The announcement by MIIT is to harbour more growth and aid the cause of the projects which are blockchain technology-related in the country.  Furthermore, a blockchain-based service network is about to be launched by the State information centre of China on April 25, to help companies deplorable blockchain technology more efficiently and at a cheaper cost. A platform called Openchain has been launched by Ant Financial in order to provide blockchain technology to small firms via powered contracts and apps.

China's leading firms are relentless in their pursuits of empowering the country with blockchain technology and this move by MIIT looks set to pay dividends.

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MIIT Led Commitee to Boost Blockchain Technology And Adoption

China has formed a new blockchain commitee which is led by MIIT, with its aim to bring more blockchain technology and development in the country.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

MIIT Led Commitee to Boost Blockchain Technology And Adoption

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