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ARTICLE · 04 APRIL 2019

"Chaining" It Up: New PRC Blockchain Regulations

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Whilst there is ongoing debate over cryptocurrency (the risks and rewards), blockchain has generally been heralded as the golden nugget when it comes to new ways of doing business.

Hong KongTechnology
Gabriela Kennedy
Gabriela Kennedy
Karen Lee
Karen Lee
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Whilst there is ongoing debate over cryptocurrency (the risks and rewards), blockchain has generally been heralded as the golden nugget when it comes to new ways of doing business. Blockchain in its simplest form is a decentralised digital ledger that cannot be altered. Many governments in the Asia Pacific region have publicly encouraged the development of blockchain. Blockchain development was identified as one of the core aims in the PRC government's 13th Five Year Plan in 2016, the Singapore Infocomm Media Development Authority recently announced that it will be offering seed funding to blockchain companies in the media and ICT sector, and the Hong Kong Monetary Authority commissioned the Hong Kong Applied Science and Technology Research Institute ("ASTRI") to investigate the potential deployment of blockchain.

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