Chinese Academy of Sciences (CAS) reported that together with the Beijing blockchain start-up Tai Cloud Corp has established a new "Big Data and Blockchain Laboratory" whose activities will focus on "the relationship between the technology of blockchain and mathematics". This is reported by Coindesk.
Xiaoshan Gao, deputy director of the Center for Mathematics and Interdisciplinary Sciences at the CAS, said that, in his view, mathematical methods play a "key" role in many fundamental problems of blockchain technology.
This laboratory, established shortly after Chairman Xi Jinping of China endorsed the blockchain technology at the annual scientific conference held by the CAS in May, is not the first step of the CAS in the field of the blockchain. Earlier this year, the Academy announced that it was going to develop a platform capable of "simultaneously support public, private and consortium blockchains."
The fact that China may have big plans with blockchain, despite the ban imposed last year on crypto trading, became clear at the end of May, when Xi Jinping admitted that the blockchain has potential, for the first time publicly supported the developing technology .