(BEINCRYPTO) Xi Jinping recently reiterated his blockchain-positive stance, praising the technology for its vast application. One application that the president of China did not specifically mention, but is coming to fruition, is its possibility to measure dedication to the Communist Party.
A new App in China has been launched that allows for members of the Communist Party to pledge their allegiance and loyalty to the ruling government by writing down and recording reasons they joined. These reasons are then stored on an immutable, but transparent, blockchain ledger.
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China has had a double-edged relationship with blockchain. The country is in strong favor of the immutable ledger and its possibilities but actively shuns the decentralized economic system that has spawned with it. The main reason for this is the fact that they can garner more control from the technology.