China announced today that they will lead an international research group on Internet of Things (IoT) and Blockchain technology. China continues to use its power to invest in blockchain technology as it hopes to be a leader in this industry. Even though cryptocurrency trading is illegal, China’s government has been very proactive in promoting new technologies.
The Ministry of Science and Technology of China’s official newspaper has issued a public statement below:
“It is of great significance for China’s related industries to lead global development and promote the integration of fiat and [the] digital economy.”
There are over 10 countries assisting in this technological research including US, Germany, UK, Germany and France.