China goes bullish on blockchain

• China wants to embrace blockchain, the technology that verifies cryptocurrency transactions.
• An official from China's state bank urged the country's commercial banks to "step up their application" of blockchain and "embrace digital finance."
• The official's remarks come after Chinese President Xi Jinping said China must make "greater effort" to develop and apply blockchain technologies and gain an "edge over other major countries."
• US President Donald Trump has made few explicit comments about blockchain to date, though in July, he notably tweeted his disapproval of "Bitcoin and other Cryptocurrencies," which are underpinned by blockchain.
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China is really bullish on blockchain, the technology that verifies bitcoin transactions.

An official at China's central bank official has urged commercial banks to "step up their application" of blockchain.See the rest of the story at Business Insider

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SEE ALSO: China's Xi urges acceleration of development of blockchain technology