China Industry Association Wants to Mark Oct. 24 as 'Blockchain Day'

Wilfred Michael 

Wilfred Michael

News reporter

29 October 2019,
China Industry Association Wants to Mark Oct. 24 as 'Blockchain Day'

China continues to dominate the news headlines for blockchain technology with the latest update from South China Morning Post, revealing that talks for a national day for commemorating 'blockchain' is now in the pipeline. 

Per the report, the China Communications Industry Association proposed on Monday that Oct. 24 of every year be dedicated to drawing additional focus to blockchain technology.

Understandably, the date was chosen since it was on Friday, Oct 24, that China President Xi Jinping publicly endorsed the application of blockchain technology across different sectors of the country's economy. 

Aside from identifying the possible applications of blockchain, Jinping had then described it as “a key breakthrough that can facilitate China’s progress in core technologies,” sparking wild interest from the global blockchain community, and a corresponding market uptrend. 

On their reasons for proposing Oct. 24 as blockchain day in China, the Association which is an affiliate of the Ministry of Industry and Information Technology described the Presidential endorsement as a milestone that opens up the opportunity for them to "carry out related projects and support the real economy,”

They added:

[President Xi] blew the horn of progress for the future. It is our full aspiration that we will start our businesses with the [Communist] Party, speak out for the technology, and applaud its applications.

Apparently, the Industry association's proposal for a national 'blockchain day' is one that would still need to be reviewed by authorities. 

In other news from China, we quoted comments from Huang Qifan, Vice Chairman of China Center for International Economic Exchanges (CCIEE), revealing that the Chinese central bank will be the first in the world to release a sovereign digital currency.

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