Zhao Yahui, general manager of People's Venture Capital

Blockchain technology will benefit numerous households thanks to cooperation between China and the United States, said Zhao Yahui, general manager of People's Venture Capital, in Silicon Valley on July 21.

Zhao addressed the blockchain sub-forum at the first-ever China-U.S. Entrepreneur and Investment Summit, held by People’s Daily Online in Santa Clara, noting that China and the U.S. have broad cooperation prospects in blockchain.

Blockchain has become a hit in the field of global technological innovation over recent years and has attracted a huge amount of capital, talent and other social resources, Zhao said.

Under the global context of slow economic recovery, structural problems and unbalanced development, the world economy today needs more dynamism than ever through technological innovation, said Zhao.

In recent years, China has developed into an important innovator in areas such as information technology, mobile payments, shared bikes and e-commerce, said the general manager.

He called for bilateral cooperation in technology, entrepreneurship, investment and personnel training, so as to drive global blockchain technology and industry development forward.

People’s Daily Online entered the blockchain industry early compared with much of China’s mainstream media, paying close attention to the industry's layout, said Zhao, who is also Director of the External Investment Department of People's Daily Online.

At the summit, People’s Daily Online launched its overseas investment platform. Zhao introduced that in the near future, a media laboratory will be established together with China’s National Business Daily to spread relevant blockchain news.