Chinese media: We must be ‘cautious’ about Blockchain

China’s People’s Daily newspaper, the official paper of the Chinese Communist Party, has cautioned its country about the implications of embracing blockchain technology.

The words from from a full-page feature – Three Questions to Blockchain – published at the start of this week, and promote regulation as the way forwards.

The article reads (via CoinDesk): “Blockchain technology is still very immature. We must be cautious about speculation on this concept and separate technology-based innovations from those with a fundraising purpose. In order to better promote and utilise the blockchain technology, the government should implement strengthened policies and regulations.”

Earlier this month, China made the move to block foreign crypto exchanges and ICO websites in order to remove many of the financial risks.