China Has Many Strategic Reasons to Invest in Blockchain
From stopping double-lending in its credit industry to an escape from dollar hegemony, China has every reason in the world to invest in blockchain.
Lightning-based fiat-bitcoin systems could popularize crypto payments, as long as fraud and bitcoin's non-reversibility don't get in the way.
From ATMs to cargo containers, standards make global commerce work. The same goes for crypto, which needs standards to comply with anti-money laundering rules.
Crypto should work within the existing regulatory structure around securities, rather than reinvent a whole new system.