China Unveils Blockchain System to Boost Belt and Road Trade Ties, Reduce Dollar Reliance

China has unveiled a blockchain project to support its Belt and Road Initiative trade relations and reduce reliance on the US dollar
The project is a collaboration between several major Chinese universities and research institutes
It aims to create a transnational blockchain infrastructure to enable cooperation and oversight among the many Belt and Road participating countries
This aligns with broader BRICS efforts to move away from using the US dollar in trade settlements
China's embrace of blockchain for global finance contrasts with its domestic ban on cryptocurrency trading and ownership