Beijing to invest in blockchain, integrate into infrastructure
Beijing city administration has unveiled a two-year plan for blockchain development, set to begin this year and extend until 2027. The initiative, created by multiple government bodies, emphasizes blockchain as a foundational technology for industrial digitalization. Objectives include enhancing digital asset value extraction and significant investments in blockchain research. The plan focuses on developing software for cryptography, confidential computing, and distributed systems, alongside infrastructure for national blockchain hubs and trusted digital identities. Target industries include healthcare, education, AI, finance, and transportation, aiming to optimize processes and foster trust. The project adheres to the "one blockchain, one network, one platform" principle, with goals for advanced storage, interoperability, and a large-scale identity system. At least 20 blockchain use cases are expected by 2027. This announcement follows a May 2023 white paper promoting Web3 innovation in Beijing.
