Crypto Could Be Used to Reward Chinese Soldiers, Local Military Newspaper Says

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Wed, 11/13/2019 - 18:55
Alex Dovbnya
Chinese soldiers could start receving rewards in cryptocurrency, according to the country's military mouthpiece
Cover image via U.Today

The South China Morning Post reports that the Chinese People's Liberation Army could start rewarding its soldiers with cryptocurrency, according to the official military newspaper PLA Daily.  

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The article states that such a reward system would help to improve "human resource management." Soldiers would acquire or lose tokens based on their daily performance. 

“To award or deduct tokens according to one’s daily performance and thus generate an objective assessment would effectively energise the human resource management.”   

Blockchain as a tamper-proof database might come in handy for keeping records of each shooter after training. All information that is stored on a ledger cannot be altered, which increases the level of transparency.    

“It provides a technological guarantee to clean and open training and examination.”          

On top of that, PLA Daily also suggests that embedded blockchains could be used for safely storing China's classified military secrets if the country decides to go to such lengths.  

The increased interest in blockchain comes after President Xi Jinping said endorsed the technology's development in China, spiking a massive crypto  rally

As reported by U.Today, blockchain was called "a breaking point to overtake" in the official mouthpiece of the Communist Party of China.    

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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