###The National Blockchain Technology Innovation Centre will soon be in operation due to the support of China's Ministry of Science and Technology, which gave its stamp of approval to the project.

 
The National Blockchain Technology Innovation Centre is an initiative by the Chinese government to promote research and development in the blockchain technology field. This center will bring together experts from different industries and academia to collaborate on the development of new blockchain technologies and applications.



The Beijing Academy of Blockchain and Edge Computing (BABEC) will manage the facility and will be in charge of overseeing and directing the center's research projects as well as encouraging cooperation between various blockchain industry stakeholders.



The relationship between China and cryptocurrencies has been contentious throughout its history. The central government has offered both support for digital currency as well as criticism of the underlying blockchain technology.



On the one hand, China has been supportive of blockchain technology and has made significant investments in the industry. It was a home to many of the largest crypto mining operations and has also launched its own digital currency, the Digital Currency Electronic Payment (DCEP) or the Digital Yuan, which was being tested in select cities.



On the other hand, the central government has taken a critical stance towards decentralized cryptocurrencies, such as Bitcoin. In 2017, the government cracked down on initial coin offerings (ICOs) and banned cryptocurrency exchanges. The reason behind this was to reduce financial risks and protect the yuan's status as the country's official currency.



It is evident that the Chinese government is committed to growing the research center, which has resulted in softening of its stance against cryptocurrencies. It is predicted that the center will make a substantial contribution to the expansion and innovation of the blockchain industry in China by promoting research that draws from multiple disciplines and fostering collaboration between academics, private companies, and public institutions.

The National Blockchain Technology Innovation Centre will soon be in operation due to the support of China's Ministry of Science and Technology, which gave its stamp of approval to the project.

Tue Feb 14 2023

China To Launch A National Blockchain Research Center

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Tue Feb 14 2023 China To Launch A National Blockchain Research Center

Ferrari to Accept Crypto Payments in the US; Plans to Include Europe Underway

Prototype Global Cryptoasset Mapping System Developed

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Huobi Rocked by Reports of Executive Arrests and Accusations of Customer Fund Misuse

Breaking The Chains: Introducing BRC-69, The Bitcoin Standard Without Data Restrictions

Prototype Global Cryptoasset Mapping System Developed

Tue Feb 14 2023

China To Launch A National Blockchain Research Center