Chinese city implements plan for blockchain digital infrastructure system by 2025

The government in the Chinese city of Shanghai issued an implementation plan on July 31 for promoting the development of its urban blockchain digital infrastructure system in the time frame of 2023-2025, according to an update on the government’s webpage. 

The update says that the plans have been formulated in order to serve the “strategic goal” of Shanghai’s urban digital transformation, along with strengthening the application of blockchain in the economy, public service and urban governance.

It reads that, “breakthroughs in blockchain core technology and standard system construction have been made, leading to the formation of an industrial ecology with strong innovation momentum, and nurturing a group of leading and innovative companies with industry influence.”

When the urban blockchain digital infrastructure system is completed, it should support municipal affairs, public services and applications in various industries in the region.

According to the announcement, it will also help with the coordination of blockchain network resources in the Yangtze River Delta region of China and create an international blockchain exchange hub. 

Related: Hong Kong would not go crypto without China’s approval — Animoca exec

China is currently in the midst of preparing various cities around the country to take on and implement emerging technologies. 

Back in May, the city of Nanjing, the capital city of China’s eastern Jiangsu province, introduced the China Metaverse Technology and Application Innovation Platform as an effort to advance the country’s metaverse research and development nationwide.

Around the same time, the Chinese city of Zhengzhou announced a number of proposals that would support the operations of metaverse companies in the region. 

Along with developments in blockchain and the metaverse, China has also been aggressively pushing forward with the development and deployment of its central bank digital currency (CBDC), the digital yuan across various cities in the country.

Earlier in July, the Chinese city Jinan began to encourage the digital yuan’s adoption by introducing payments across all its bus routes. 

Magazine: China’s blockchain satellite in space, Hong Kong’s McNuggets Metaverse: Asia Express