China has accounted for 84% of the world’s blockchain applications, The South China Morning Post reported a government official saying on Tuesday.
“[Blockchain] accelerates integration with the economy,” Deputy Director of the Ministry of Industry and Information Wang Jianwei said. Only 19 per cent of applications were approved, the report added, noting that Chinese citizens are prohibited by law from participating in leading blockchains – decentralised ledgers of transactions across a peer-to-peer network – overseas.
Read the full report: The South China Morning Post
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