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China Is Reinventing the NFT Market With a Major Twist That Crypto Connoisseurs May Not Like: State Control

The notoriously censorious country is taking new steps to foster growth, utility, and innovation in digital assets. But at what cost?

Hong kongJehan chuXu beihongInformation centerPeople bankChina mobileChina service networkAnt group jingtan topnodGreat firewallBlockchain based service networkState information centerFred dateChina unionpayDistributed digital certificatesAnt groupShanghai symphony orchestra

China s NFT Plans Are a Recipe for the Government s Digital Control

China’s vision of the next iteration of the internet is one in which China controls and vets who can build on it.

United statesYear plan for national informatizationFederal reserve bankNational science foundationChina state information centerChinese communist partyPeople bankService networkDigital currency initiativeBlockchain based service networkState information centerWechat payDistributed digital certificatesPermissioned blockchainFive year planNational informatization

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