China's Mega-Blockchain: 100,000 transactions revealed per second!

China's Mega-Blockchain: 100,000 transactions revealed per second!

china has taken a remarkable step towards digital future. The country's latest blockchain service can process over 100,000 transactions per second. This impressive performance not only represents technological progress, but is also part of a comprehensive strategy to strengthen China's digital economy and infrastructure. According to ainvest , this development project aims to use blockchain in various areas, such as financial services and Supplier management, to expand.

The high transaction rate and the safety and scalability functions of the new blockchain should not only appeal to public but also private sectors. As a result, the Chinese government promises to increase the efficiency of transactions and minimize the risks of fraud. In this context, the blockchain could also help improve transparency in the supply chain and to optimize government services. This is particularly relevant if you take into account that China also focuses on technological innovation and sees the use of blockchain as the key to economic growth.

strategic orientation and political support

The support of the Chinese government for blockchain technology is already due to a speech by President Xi Jinping in October 2019. In this, he emphasized the importance of the blockchain as a decisive breakthrough for the innovative development of nuclear technologies. The Chinas Communist Party now considers data as an essential production factor, equivalent to work and capital, such as Forbes . This was further reinforced by the "14th five-year plan" (2021-2025), which took into account the development of the blockchain industry in almost all provinces of China.

A central element of this strategy is the blockchain-based service network (BSN) launched in 2020. This state-controlled framework supports the development and implementation of blockchain applications nationally and internationally. This shows how China tries to strengthen his position in global competition. A national blockchain research center was also set up on the initiative of the government to develop young talents in this area, which aims to train at least 500,000 blockchain professionals.

global influence and geopolitical considerations

But China's ambitions do not end at the national borders. The strategy aims to expand the country's global digital influence. According to Neuron Expert pursues China border projects to integrate blockchain-technologies internationally. A central pillar is the digital Yuan, which not only acts as a separate currency, but also to promote the integration of Chinese standards into other markets.

This comprehensive procedure can also be seen in the Belt and Road Initiative, which is intended to promote digital infrastructures in different countries. A mixture of economic growth and geopolitical strategies can be seen. The technological cooperation and the creation of a common standard is considered the key to success.