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Blockchains with Chinese Characteristics

In: Blockchain in the Global South

Author

Listed:
  • Nir Kshetri

    (University of North Carolina)

Abstract

The Chinese blockchain industry and market have unique, unusual, and idiosyncratic characteristics. Several established companies as well as start-ups in China have developed and deployed innovative solutions involving blockchain. On the other hand, some uses of blockchain such as initial coin offerings for capital-raising have been banned. While blockchain is a disruptive technology with the 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 chapter 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.

Suggested Citation

  • Nir Kshetri, 2023. "Blockchains with Chinese Characteristics," Springer Books, in: Blockchain in the Global South, chapter 0, pages 83-111, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-33944-8_4
    DOI: 10.1007/978-3-031-33944-8_4
    as

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