China is showing immense interest in blockchain technology. President Xi Jinping held a study session on advance technology on Thursday. Xi Jinping said that the communist party should regard blockchain as a core technology for important innovative breakthroughs.

Chinese incumbent President Xi Jinping has shown great interest in the blockchain technology. In a study session that he held on Thursday, Jinping said that he wants the country to lead in the blockchain technology. Earlier, Russia had said that the internet might have belonged to America, but blockchain would belong to Russia.

All the world leaders have hailed blockchain as a great technology that can potentially change how the government and people interact. The technology initiated to underpin cryptocurrency has gained a positive response from the world. And on the other hand, regulators have criticized cryptocurrencies.

Xi Jinping said that China already has a solid foundation to develop blockchain technology. He further mentioned that China would promote the integration of blockchain technology with the real-world economy and solve problems in the existing banking and financial system, Xinhua.net reported. Xi advised that relevant departments and their leaders should pay attention to the status quo and trend of blockchain technology development.