Just saw an interesting report on blockchain technology on NHK World News. They have an app in English that reports on all sorts of stuff.

Anyways, the president of mainland China is pushing blockchain worldwide as a means of improving goods and services through technology and facilitating currency exchange not dependent on US dollars.

Various uses for example are with Alibaba (Alipay) where a lady from Hong Kong sent her remittance to her mother in the Philippines directly without going through banks (and fees and delay). And Kazakhstan can sell oil directly to mainland China.

But the most interesting part was when a reporter asked the CEO of Tai Cloud (funded by the government) if the mainland Chinese government might open a backdoor to blockchain and thus monitor and direct all transactions.

His reply, technically possible but illegal.

Later in the program, Jack Ma was pronouncing how blockchain will promote good social order throughout the world.

And is an important push in the Belt and Road program.

... like an Apple feel good commercial but with Orwellian undertones ...