The city administration of Beijing has announced a plan for local blockchain development and implementation in the following two years.
According to an announcement on April 29, the plan was jointly developed by the Beaming Commission of Beijing, the Administrative Committee of Zhongguancun, the Cyberspace Administration Office, the Bureau of Government Services and Data, the Bureau of Economy and Information Technology and the Bureau of Commerce. The implementation is anticipated to start this 12 months and proceed until 2027.
The announcement. Source: Beijing government
The blockchain innovation and application development plan Beijing recognizes blockchain as a “critical basic technology for industrial digitization and necessary digital infrastructure”.
Remarkably, the goals also include plans to “improve the performance through digital assets through blockchain”, which indicates crypto mining. The announcement also claims that the town has already invested heavily on this research area:
“Beijing has continued considerably in autonomous blockchain technology development and application scenarios.”
Beijing bets on blockchain for economic growth
The plan includes the event of blockchain software, which goals through breakthroughs in cryptography, confidential computer and distributed systems. The project also includes the event of the blockchain infrastructure, including national blockchain hub nodes and platforms for trustworthy digital identity and distributed data directories.
The industries which are coordinated for the blockchain application include healthcare, education, large models for artificial intelligence, financial services and technique of transport. The aim is to enhance efficiency and trust:
“The aim is to optimize business processes, to make sure trustworthy data exchange and to innovate service models to create benchmark applications as a way to promote wider blockchain acceptance.”
A blockchain, a network, a platform
In the announcement, the principle quotes “a blockchain, a network, a platform”. By 2027, the project goals to implement dedicated blockchain chips, data protection properties, crosschain interiority and distributed networks.
The project hopes to realize trustworthy node stores on the petabyte scale, a large-scale blockchain interior operability and an interoperable identity system of 100 million users' scale. The announcement guarantees the event of not less than 20 blockchain applications.
The announcement follows from Beijing's publication of a white paper to advertise innovation and the promotion of web3 industry in May 2023. The “Web3 Innovation and Development White Paper” recognized web3 technology as a “inevitable trend for the longer term development of the Internet industry”.
The Commission behind the newspaper hoped to construct Beijing as an innovation center for the digital economy and planned for not less than 100 million yuan ($ 14 million) this 12 months.
