07-17-2020 icon

China’s Capital City to Become a Blockchain Hub by 2022

By Sagetwriter
China Beijing Blockchain Plan

The Government of Beijing – China’s capital city has released a 145 page document outlining its plans to become a blockchain innovation hub over the next two years.

The blockchain blueprint comes nearly a month after the city’s municipal government had announced its “Beijing Blockchain Innovation Development Action Plan (2020-2022), aimed at making the city one of the first in China to adopt blockchain technology for economic development.

An official annoucement by Beijing authorities reads:

“By 2022, Beijing will become an influential blockchain technology innovation center, application demonstration center, industrial development center, and innovative talent center, taking the lead in forming the ‘Beijing Plan’ for blockchain-enabled economic and social development.”

The blockchain road-map will see the technology effected in digital governance, customs, cargo, finance, electricity billing and real estate sectors across the city; with a focus on data, ID verification, and supply chain processes.

Also being announced as part of Beijing’s blockchain efforts, are reports by local media that about 140 government services are already using applications under the “Beijing Government Service Blockchain Application Innovation Blue Book (First Edition).”

China Heading Asia’s Blockchain Drive

Following comments by Chinese President Xi Jingping who called for the swift adoption of blockchain technology in the country, the Asian giant has seen increasing activity in the industry.

At this time, Chinese tech companies including Alibaba Group have filed the highest number of blockchain patents globally. Just as the country also set up its National Blockchain Committee in a clear show of interest in the technology.