To Fight corruption, China Embraces Blockchain

With a GDP of above 11 Trillion USD, China is amongst the largest and fastest growing economies in the world, conducting almost 17% of all global economic activity. Unfortunately, this isn’t the only chart the PRC is leading when it comes to money changing hands Ranking at about place 79 in the Global Corruption Perceptions Index, China’s perceived level of economic misconduct is comparable to much smaller economies such as Egypt, Niger and Armenia. In an attempt to prepare the People’s Republic’s market for the coming decade, and to eradicate institutionalized corruption, the Chinese government has recently announced that it seeks to heavily invest in Blockchain technologies to increase transparency and counter fraud.