The Shanghai municipality is launching a strategic plan to develop the city’s blockchain infrastructure, which aims to ensure the region’s digital transformation by 2025.
The government of the Chinese city of Shanghai unveiled a plan to develop the local blockchain infrastructure that will be implemented over the next two years. The main goal is to expand the application of DLT technologies in the economy, public services, and city management.
According to the submitted plan, blockchain will serve as a key technology for creating a new generation of urban digital infrastructure. The plan’s implementation consists of activities aimed at expanding the possibility of applying blockchain technology in various areas of urban life as part of its digital transformation. The main points are:
- Provide opportunities for the application of blockchain technologies in urban governance and public service delivery.
- Develop a high-performance underlying infrastructure for blockchain computing, including distributed open networks and clusters of specialized computing power.
- Create platforms for managing blockchain services, including monitoring, statistics, and analytics.
- Develop a full range of blockchain applications for government services, particularly intellectual property protection, financial management, and emergency reserves.
- Design several blockchain-based benchmark projects capable of analyzing areas such as maritime logistics, international trade, and industry.
- Create a blockchain ecosystem that will help attract influential and innovative companies to the region.
- Attract blockchain experts to the city through the development of new research institutes and centers.
- Create a cross-industry lending system based on blockchain, focused on assessing creditworthiness and mutual trust in the corporate sphere.
The initiative also provides for the establishment of special committees and expert councils to coordinate and monitor the implementation of the plans outlined. It should be noted that the plan is based on the guiding principles of modern Chinese socialism, so the main goal of the Shanghai municipality within the initiative is not only creating a modern urban digital infrastructure, but also being able to become a world leader in blockchain innovation.
This plan fits into the general context of the PRC government’s plans to develop and implement innovative technologies in various Chinese cities. The municipalities of Nanjing and Zhengzhou cities have previously revealed plans to develop the Metaverse industry in the regions. Besides, the Chinese authorities are expanding the options for using the digital yuan, whose transaction volume is actively growing.
