Blockchains with Chinese Characteristics

Nir Kshetri

31st European Regional ITS Conference, Gothenburg 2022: Reining in Digital Platforms? Challenging monopolies, promoting competition and developing regulatory regimes from International Telecommunications Society (ITS)

Abstract: The Chinese blockchain industry and market have unique, unusual and idiosyncratic characteristics. Several established companies as well as startups in China have developed and deployed innovative solutions involving blockchain. On the other hand, some uses of blockchain such as initial coin offering for capital-raising have been banned. While blockchain is a disruptive technology with a potential to transform the economy and society, it promotes decentralized governance and thus can turn centralized political structures such as those of China upside down. This paper offers an analysis of seemingly conflicting actions of the Chinese government on the blockchain front. It analyzes how China is creating a delicate balance between encouraging the use of blockchain for the growth and modernization of the economy and making sure that the technology is not used to threaten the legitimacy of the Chinese Communist Party.

Keywords: blockchain; China; cryptocurrency; initial coin offering; product traceability; trade finance (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-cna and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:itse22:265646

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