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China Look To Utilise Blockchain To Incentivise Military

 
China Look To Utilise Blockchain To Incentivise Military
Breaking News / Blockchain
  • The People’s Liberation Army (PLA) Daily proposed a blockchain-focused overhaul of the country’s army.
  • There has been a lot of excitement surrounding China’s adoption of blockchain, as well as concern.
  • Dr Fan Long noted that China’s push would likely seep into the industry at large.

Thanks to the latest verbal adoption of blockchain by Chinese President Xi Jinping, the new initiative could see its army rewarded in crypto tokens.

China’s blockchain hype train seems to have calmed down a bit this past week or so but now, The People’s Liberation Army (PLA) Daily proposed a blockchain-focused overhaul of the country’s army.

As per CCN:

“Personal data management may be shifted to the blockchain to increase efficiency. Further, crypto tokens could be used to incentivize soldiers to heighten performance in both missions and training. Information pertaining to military personnel such as training reports and mission data would be collated via blockchain technology.”

There has been a lot of excitement surrounding China’s adoption of blockchain, as well as concern. The rise in the price of crypto and blockchain has been often accompanied by an increase of general interest by big institutional investors. At the end of 2017, we saw a lot more people enter the market who probably never even heard of cryptocurrency and get involved with the space.

Founder of the Chinese blockchain protocol Conflux, Dr Fan Long noted that China’s blockchain push would more than likely seep into the industry at large.

“China has been pushing the development of Blockchain technology in recent years. It has many sandboxes all over the country for entrepreneurs to develop their own businesses based on Blockchain technology. With President Xi’s recent announcement, it will give the whole industry an even bigger push.”

It will be interesting to see how this situation plays out with the Chinese military. For more news on this and other crypto updates, keep it with CryptoDaily!

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