May 11, 2021

Beijing Tries to Put Its Imprint on Blockchain

Featuring Yaya J. Fanusie

Source: The Wall Street Journal

Journalist James T. Areddy

China, home of the Great Firewall, is trying to bring order to a scrappy corner of cyberspace—and in the process put its mark on the next-generation internet.

A Beijing-backed initiative aims to shape a category of online record-keeping called blockchain. Most commonly associated with bitcoin, blockchain holds broad promise for business and other uses but has been hobbled by a lack of uniform technical standards.

With an offer of ultracheap server space, Beijing is beckoning blockchain’s global community of developers to adopt its vision for the technology. Success could put China in a powerful position to influence future development of the internet itself and promote international use of Chinese innovations, like a homegrown Global Positioning System and a digitized national currency.

Read the full story and more from The Wall Street Journal.

Authors

  • Yaya J. Fanusie

    Adjunct Senior Fellow, Energy, Economics and Security Program

    Yaya J. Fanusie is an Adjunct Senior Fellow at the Center for a New American Security (CNAS). His research focuses on the national security implications of cryptocurrencies an...