China planning to reward its soldiers with cryptocurrency

• Soldiers scoring high marks or excelling in a field will be rewarded
• Chinese President Xi Jinping endorsed and spoke about the potential of cryptocurrency back in October.

In China, cryptocurrency is being discussed as a new means of reward for soldiers who have done a job well. The official newspaper of the People’s Liberation Army, PLA Daily, is suggesting that the country’s soldiers be rewarded in cryptocurrency, should the blockchain technology become successful in the country.  

The mouthpiece for China’s military proposed a system where blockchain-based tokens are given to soldiers who earn high marks from their teachers in the initial training periods. Soldiers will also potentially earn crypto rewards when they complete certain tasks or if they excel in a given field.  

PLA Daily explained:

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

This suggestion from the military comes after an increased interest in blockchain in China over the last month. In October, Chinese President Jinping endorsed blockchain, claiming it could potentially reinvigorate the Chinese economy.