Cao Shiping: Hainan will actively apply to the central government for a "first try" of digital currency research and launch blockchain sandbox supervision

Babbitt reported on the spot that on December 6, the Hainan Free Trade Port Digital Economy and Blockchain International Cooperation Forum was held in Haikou. In his speech, Cao Shiping, chief engineer of the Department of Industry and Information Technology of Hainan Province, China, said that blockchain can be used for three major businesses: the first is to store certificates, and Hainan will open various application scenarios to encourage government departments to implement chain reform; The second is the token. Hainan hopes to open up the points of various merchants, which is also a typical application of the blockchain in this respect. The third is digital currency. Hainan will actively apply to the central government for a "first try" of digital currency research.
At the same time, Hainan will launch a blockchain sandbox supervision and fault tolerance and correction mechanism in the future to provide an innovative environment for blockchain development; explore technical standards and models for digitalization of assets, digital asset confirmation, flow, and transactions. He also revealed that the province will soon launch ten policies on accelerating the development of the blockchain industry.