The Future of US-China Tech Relations: Blockchain, Crypto, and Central Bank Digital Currency

How is China regulating data, blockchain, and the emerging Web3? China’s regulatory approach is based on “cyber sovereignty.” The government actively promotes blockchain technology and has advanced plans for a sovereign digital currency, while also strictly prohibiting crypto mining and trading. With respect to the latest Web3 and metaverse developments, China’s tech companies are working on a “token-less” metaverse ecosystem with unique Chinese characteristics. Using blockchain and CBDC as examples, we will explore China’s latest innovation policy and the post-20th Party Congress US-China tech race, from AI and semiconductor chips to quantum computing and electric cars. Winston Ma, the author of Blockchain and Web3: Building the Cryptocurrency, Privacy, and Security Foundations of the Metaverse, will discuss these questions with Maria Adele Carrai, co-editor of The China Questions 2 – Critical Insights into US-China Relations.