October 12th 2026, 7:19 PM
China Unveils National Blockchain Network Without Tokens, Focusing on State-Coordination
Key Summary
China's top leadership has called for the development of a national blockchain network, emphasizing state-coordination and data property rights. The plan does not include independent digital assets or tokens, instead focusing on a state-backed platform for developers to deploy blockchain applications.
Please see our real time news feed on our Home Page
Overview
China's Communist Party of China (CPC) Central Committee and the State Council have released a policy document titled 'Opinions on Developing New Quality Productive Forces.' The document outlines 19 measures to drive innovation and economic growth, including the construction of a national blockchain network.What the Guidelines Say
The core aim is to tie China's real economy to its digital economy by leveraging blockchain technology. The guidelines also emphasize the importance of data property rights, which will be formalized through a nationwide integrated computing power network.Industry Priorities
The document highlights six future industries that Beijing wants to prioritize, including quantum technology, biomanufacturing, and sixth-generation mobile communications. An 'AI+ initiative' is also centered on green and low-carbon development.Token Absence
The guidelines explicitly mention the absence of independent digital assets, crypto tokens, or permissionless systems. The blockchain in this plan is state-coordinated infrastructure, rather than a decentralized system.Implications
The strict framework may pose challenges for companies trying to introduce independent digital asset products. The likely result is a cautious investment climate that favors state-coordinated projects over individual crypto innovation.#China#Blockchain#US#Crypto#StateCoordination