Opinion: China is racing ahead of the United States on blockchain
By Josh Rogin Josh Rogin Columnist covering foreign policy and national security Email Bio Follow Columnist March 7 The grand strategic competition between the United States and China will be won or lost based on who controls the rules and systems that govern 21st-century commerce, communications and security. Washington can no longer ignore that China is way ahead on the core technology that will underpin those systems: blockchain.
Blockchain is described as “an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.” It is a core technology for Web 3.0, the infrastructure of the next generation of online connectedness. For Western societies, blockchain is transformative in that it can be used to distribute power, which in turn can promote rule of law, fight corruption and crime, and protect digital identity and privacy.
On the local government level, China is now implementing blockchain for supply-chain management, tax collection, food and drug safety, and more. As the National Interest reported, China’s People’s Liberation Army is already working on how to weaponize blockchain for “gray zone” attacks, meaning cyber and information warfare.
Experts warn that the Chinese government is regulating blockchain not just for internal repression. Beijing is investing huge amounts of time and effort to develop blockchain technologies that can be used to exert Chinese influence abroad. While Westerners envision blockchain-based Web 3.0 as an open system,
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