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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.

Key points:

  • The Chinese city of Shanghai has released an implementation plan for its urban blockchain digital infrastructure system.
  • The plan aims to promote the development of blockchain technology in various industries and support municipal affairs and public services.
  • It also aims to create an international blockchain exchange hub in the Yangtze River Delta region.
  • This move is part of China’s efforts to implement emerging technologies in different cities across the country.

According to the announcement, the completed urban blockchain digital infrastructure system will support municipal affairs, public services, and applications in various industries in the region. 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.

China is currently preparing various cities around the country to implement emerging technologies. In May, the city of Nanjing introduced the China Metaverse Technology and Application Innovation Platform to advance the country’s metaverse research and development nationwide. The Chinese city of Zhengzhou also announced several proposals to support the operations of metaverse companies in the region.

In addition to blockchain and metaverse advancements, China has been actively promoting and deploying its central bank digital currency (CBDC), the digital yuan. The city of Jinan recently encouraged the adoption of the digital yuan by introducing payments across all its bus routes.

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