At the turn of the millennium, numerous groundbreaking innovations have surfaced, impacting various sectors of the economy, finance and technology. Perhaps most notably, blockchain technology has emerged as a game-changer, thanks to its algorithms, distributed transaction systems, records and databases. Its capabilities extend far and wide, opening up new avenues for digital services, encrypted banknotes and electronic platforms. The adoption of blockchain technology in China's economic and monetary sectors was driven by the need for safe and verifiable legal and government transactions, among other reasons. Blockchain technology is a new kind of distributed digital records that are decentralised, highly credible, transparent, participatory, traceable, impenetrable and resistant to digital forgery.