On July 31, Shanghai, China released an implementation plan aimed at promoting the development of the urban blockchain digital infrastructure system from 2023 to 2025. The plan is part of Shanghai's strategic goal for urban digital transformation and aims to enhance the applic ation of blockchain technology in various sectors such as the economy, public services, and urban governance.
The city's authorities expressed that significant progress has been made in the construction of blockchain core technology and standard systems. They believe that an industrial ecology with strong innovation momentum has emerged, and several leading innovative enterprises with industry influence h ave been nursed. Once the urban blockchain digital infrastructure system is completed, it is expected to support various municipal affairs, public services, and industry applications within the region.
Furthermore, the plan seeks to coordinate blockchain network resources in the Yangtze River Delta region, a major economic zone in China. The ultimate objective is to create an international blockchain exchange hub, bolstering Shanghai's position in the global blockchain landscape.
This move comes as China is actively encouraging the adoption of emerging technologies in cities across the country. Earlier this year, Nanjing, the capital of Jiangsu Province, launched the China Metaverse Technology and Application Innovation Platform to drive the national Metaverse research and de development. Similarly , the city of Zhengzhou introduced measures to support Metaverse operations in its region.
In addition to the development of blockchain technology and the virtual universe, China is also pushing for the deployment of its central bank digital currency, the digital yuan. Several cities, including Jinan, have been introducing the digital yuan as a payment method on public transportation to encourage its widespread use.
Through these initiatives, China is positioning itself at the forefront of technological innovation, seeking to leverage blockchain, the digital yuan, and other emerging technologies to drive economic growth and digital transformation in its cities.
