China: People’s Daily Gives Blockchain Project VeChain (VET) a Mention | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
VeChain, a Singapore-based blockchain project was directly mentioned in China’s major newspaper, People’s Daily, a move that could fuel the adoption of the platform in China, as the country has now renewed its interest in distributed ledger technology and crypto, following President Xi Jinping’s recent bullish statement on distributed ledger technology (DLT).
VeChain Gaining Traction in China
The VeChain project has been on a steady rise since it was launched in June 2015 in crypto-friendly Singapore, with a mission to increase transparency and trust in every business process.
The blockchain platform continues moving rapidly on the upward trajectory. It wasn’t just mentioned in the passing on People’s Daily. The Chinese newspaper also supported it with the tag, “world leader” in the blockchain industry.
A Perfect Timing
The development has come at a perfect time as China has put preparations in top gear to integrate DLT into major sectors of its economy, following the President’s October statement on the potential of the nascent technology.
The application of blockchain technology has been extended to numerous sectors of the global economy, including decentralized finance (DeFi), Internet of Things (IoT), smart manufacturing, supply chain management and digital asset trading, and China’s number one citizen is not oblivious to this fact.
Xi Jinping was quoted as saying by Chinese news agency, Xinhua, that:
“Efforts should be made to promote the deep integration of blockchain with the real economy,