Chinese City Embarks on Bold Journey Towards Blockchain-Powered Digital Infrastructure by 2025

In a significant move, the government of Shanghai, China, unveiled its ambitious plan to foster the growth of a cutting-edge urban blockchain digital infrastructure system between 2023 and 2025. According to an update on the government’s website, the plan aims to fulfill the strategic objective of transforming Shanghai into a technologically advanced urban center, while also reinforcing the widespread use of blockchain technology in the economy, public services, and urban administration.

The announcement highlighted substantial progress in the development of blockchain’s core technology and the establishment of a robust standard system, leading to the emergence of a thriving industrial ecosystem and the nurturing of influential and innovative companies within the sector.

Upon completion, the urban blockchain digital infrastructure is expected to empower various municipal affairs, public services, and industries throughout the region. Additionally, it is set to play a crucial role in coordinating blockchain network resources within the Yangtze River Delta area and act as an international blockchain exchange hub, further solidifying China’s position as a technology leader.

China, as a nation, has been actively preparing several cities to embrace and implement emerging technologies. In a recent initiative in May, the city of Nanjing introduced the China Metaverse Technology and Application Innovation Platform, aiming to drive metaverse research and development on a nationwide scale. Similarly, the city of Zhengzhou announced proposals to support metaverse companies operating in the region, indicating China’s commitment to explore new frontiers in technology.

In addition to developments in blockchain and the metaverse, China has been aggressively pushing forward with its central bank digital currency (CBDC), the digital yuan, across various cities in the country. For instance, in July, the city of Jinan began promoting the use of digital yuan by accepting payments across all its bus routes.

As the nation continues to prioritize technological advancement, Shanghai’s latest endeavor into blockchain-powered digital infrastructure serves as a prominent step towards propelling China into a digitally connected and innovation-driven future.

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