Silk Road

Ultra

Conflux

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/china-launches-groundbreaking-blockchain-initiative-for-international-trade-development" rel="noopener noreferrer nofollow">China Launches Groundbreaking Blockchain Initiative for International Trade Development</a><br></p>
<p style="text-align: justify">China is forging ahead with a new blockchain initiative, despite its ban on <a href="https://en.bitcoinhaber.net/investor-steve-eisman-predicts-no-fed-rate-cuts-this-year-despite-market-expectations" rel="noopener noreferrer nofollow">cryptocurrency</a> transactions. The Chinese government has announced the creation of an “Ultra Large-Scale <a href="https://en.bitcoinhaber.net/new-partnership-between-saudi-aramco-and-sbi-holdings-signals-growing-interest-in-crypto-and-semiconductors" rel="noopener noreferrer nofollow">Blockchain</a> Infrastructure Platform” specifically for the Belt and Road Initiative. Spearheaded by the Conflux Network, this project stands apart from existing cryptocurrency ventures due to its alignment with state regulations and its focus on providing a public Blockchain infrastructure.</p>
<h2 id="strategic-blockchain-integration-in-global-trade">Strategic Blockchain Integration in Global Trade</h2>
<p style="text-align: justify">The project’s core objective is to establish a robust public blockchain platform that will serve the expansive Belt and Road Initiative, demonstrating China’s interest in harnessing blockchain for international collaboration and infrastructure enhancement. The collaboration between the government and Conflux Network aims to bring about greater transparency, efficiency, and <a href="https://en.bitcoinhaber.net/platypus-hackers-who-stole-8-5-million-released-without-charges" rel="noopener noreferrer nofollow">security</a> to the international project through blockchain technology.</p>
<p style="text-align: justify">The Belt and Road Initiative, a significant global development program initiated by China, seeks to bolster economic cooperation and connectivity along the traditional Silk Road routes. The incorporation of blockchain is anticipated to further China’s goals of fostering international trade and collaboration.</p>
<h2 id="broader-implications-and-global-potential">Broader Implications and Global Potential</h2>
<p style="text-align: justify">Blockchain’s promise extends well beyond cryptocurrencies, with potential applications in supply chain management, digital identity verification, and secure data sharing. China’s decision to exclude cryptocurrency activity from the blockchain infrastructure highlights its cautious stance on digital currencies. Nonetheless, the initiative’s focus on blockchain underscores the technology’s versatility and potential.</p>
<h3 id="points-to-consider">Points to Consider</h3>
<ul>
 <li>The new blockchain project is a strategic move to enhance transparency and cooperation in China’s Belt and Road Initiative.</li>
 <li>Blockchain’s utility in diverse sectors is recognized, setting a precedence for other countries to follow.</li>
 <li>China’s continued exploration of blockchain, while distancing from cryptocurrencies, exemplifies a targeted approach to technological adoption.</li>
</ul>
<p style="text-align: justify">Experts see this initiative as a potentially transformative model that, if successfully implemented, could influence global practices by showcasing how blockchain can be used effectively in large-scale international projects. The Ultra Large-Scale Blockchain Infrastructure Platform could become a benchmark for others interested in exploring blockchain’s capabilities within the context of international development and trade.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/china-launches-groundbreaking-blockchain-initiative-for-international-trade-development" rel="noopener noreferrer nofollow">China Launches Groundbreaking Blockchain Initiative for International Trade Development</a></h5>

China Launches Groundbreaking Blockchain Initiative for International Trade Development

Table of Contents

BH NEWS

Other articles published on Apr 1, 2024

Bitcoin’s Future Brightens as Tether Purchases More Reserves

BSX: The First CLOB Perp Exchange to Launch on Base Layer-2 Blockchain

Is Elon Musk Right About AI’s 20% Potential Threat To Humanity?

Telegram Boosts User Earnings with Toncoin for In-App Ad Purchases

Tokenization: The Future of Renewable Energy Investment

ParagonsDAO (PDT) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Join our free newsletter for daily crypto updates!