The Chinese National Blockchain Technology Innovation Center has begun operating. The center will collaborate with local universities, think tanks, and blockchain companies to develop distributed ledger technology (DLT) and train specialists in China.
The National Blockchain Technology Innovation Center (NBTIC), led by the Beijing Microchip Blockchain and Edge Computing (BABEC) Research Institute, has been officially launched. This was reported by the local media.
The center was approved by China’s Ministry of Science and Technology in February 2023 and is located in Beijing’s national innovation demonstration zone, Zhongguancun. The PRC government plans to train more than 500,000 high-level specialists in distributed registry technology at the center.
According to Zheng Zhiming, Professor at the School of Mathematics and Systems Science at Beihang University (BMSS), the goal of the Chinese innovation center is to connect different uses of blockchain in the country — so-called “blockchain islands” — into a single network. Dong Jin, Director of the National Blockchain Technology Innovation Center, argues that the initiative will overcome technical obstacles in the field and solve problems of data security and reliability. Moreover, he believes that the center will be able to strengthen the security of the national digital economy.
As intended by the PRC government, the National Blockchain Technology Innovation Center will actively develop ultra-large-scale clusters of computing power to support blockchain networks and build a national network of computing power that connects core and industry node networks in order to improve overall network performance. This digital infrastructure will serve key sectors of the national economy, including cross-border trade, supply chain finance, energy, manufacturing security, and food processing.
The PRC accounts for 84% of all blockchain technology patent applications filed worldwide, with about 1,400 blockchain companies based in Mainland China. China’s government also announced plans to become a leader in the virtual reality industry.
