China’s goal – irrespective of whether it’s 5 G, blockchains or artificial intelligence –to be the world leader in innovation could be more important, despite its slow economy and its trade war with the US.
Trade tensions between the United States and China prompted experts to talk about ‘ decoupling’ between nations, which was a worsening breakup of two major economies in the world.
The matter was widely discussed during the entire conference as specialists discussed China’s blockchain, financial technology, and 5G supports.
The competition between China and the United States concentrated on the production of 5 G mobile services, with a particular focus on the Chinese tech giant Huawei.
In May, the U.S. government blacklisted Huawei, a major developer of super-fast 5 G technology. Washington raised safety concerns regarding Huawei’s equipment, claiming that the Chinese government can provide a backdoor for spying on the United States. Such arguments are repeatedly negated by the Chinese tech giant.
China started its 5G mobile networks this month in advance. Days later, it announced that research and development were underway for 6G networks.
According to the media, China’s 5G business services are available in 50 cities. By contrast, the US offers the 5 G services only in certain cities.
Blockchain, a Bitcoin blockchain technology, is widely used in different sectors, from finance to nutrition.
China’s weight was recently thrown behind the blockchain.
President Xi Jinping has allegedly urged China to take advantage of Blockchain’s opportunity
In areas like problem solving, learning and reasoning, AI may be defined as technology replicating human intelligence and behavior.
AI software has been used by 14% of companies in China, but there is still a chance to expand.