China Takes Another Step Towards Blockchain Adoption to Recognize Industry Jobs Officially

• Toshendra Kumar Sharma
• May 15, 2020

To promote employment amid the global COVID-19 pandemic, China recognizes blockchain jobs as a new occupation. While the Covid-19 outbreak has drastically impacted human lives and wealth, it has some positive effects on the blockchain domain. China has officially recognized blockchain-related jobs to expedite the process of blockchain adoption.

 

China is not new to blockchain adoption. Recently it was reported that China’s Central Bank, People’s Bank of China, wants to accelerate blockchain Adoption. According to the central bank’s deputy Governor, Fan Yifei, the country’s blockchain adoption strategy should be accelerated. China is taking a step forward towards blockchain adoption to recognize industry jobs officially.

 

China’s Ministry of Human Resources and Social Security (MOHRSS), the ministry responsible for national labor policies and regulations, has taken a positive stand towards blockchain-related jobs.

 

New Blockchain-focused Professions to Promote Employment

 

According to the statement issued by MOHRSS, blockchain-focused professions, such as tech developers, engineers, and analysts, are among ten newly recognized jobs. Moreover, people involved in 3D printing and nucleic acid examination have also gained recognition.

 

The MOHRSS elaborated that blockchain’s job encompasses various kinds of works such as the development of underlying technology, architecture design, operation, and maintenance, along with system application and testing. The ministry has stated that the official recognition for these jobs is in accordance with the country’s rising need to promote employment amidst the coronavirus outbreak.

 

The decision to recognize blockchain jobs has come at a time when the COVID-19 outbreak has dealt a big blow to the Chinese economy, where the economy has declined by 6.8 percent. The country has experienced massive job losses after months of lockdown over the coronavirus outbreak.

 

China’s Efforts in Blockchain Technology Keep Rising

 

Recently, it was reported that China’s central bank is accelerating its Central Bank Digital Currency (CBDC) plan, to turn a crisis into an opportunity during coronavirus outbreak.  China is progressing in speeding up its overall blockchain adoption strategy to minimize the economic impact of the Covid-19 outbreak, in line with the order by China’s President Xi Jinping.

 

On May 13, China’s central bank, the People’s Bank of China, held a meeting calling for further acceleration of the blockchain adoption strategy. Chinese authorities have tested at least two large blockchain-related projects as of date.

 

China appears to have been accelerating the development of China’s central digital bank digital currency, Digital Yuan, being trialed across four cities, including Shenzhen, Xiongan, Chengdu, and Suzhou, despite the COVID-19 crisis.

 

In late April this year, China has also launched a Blockchain-based Service Network (BSN) for Global commercial use and to help blockchain projects create and run new blockchain applications for a lower cost.

 

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