Be a forerunner of blockchain application

Overnight, it seems blockchain has skyrocketed in China from being a concept limited mostly to industry insiders into a promising new territory of opportunities.

All because General Secretary Xi Jinping identified blockchain as "a crucial breakthrough point for indigenous innovation of core technologies" at the 18th collective study session of the Political Bureau of the Communist Party of China Central Committee on Thursday.

The CPC obviously regards blockchain as a commanding point of next-generation technologies that it cannot afford not to grasp. "A contest has officially started," as one official media outlet declared. "And China's goal is certain and singular: to be No 1."