Shanghai to establish blockchain infrastructure by 2025

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Shanghai to establish blockchain infrastructure by 2025
Shanghai to establish blockchain infrastructure by 2025

To support Shanghai’s overall blockchain goals, spanning local government affairs, public services, and real-world economy applications, the plan consists of constructing a blockchain network and dedicated computing power clusters

Shanghai, the financial hub of China, has revealed its intention to establish a city-wide blockchain infrastructure by 2025. Shanghai has plans to connect to Hong Kong and Singapore for use in various fields. Digital assets, transportation, industrial internet-of-things (IoT), supply chain finance, and carbon management are the sectors to be served by the proposed blockchain network.

To support Shanghai’s overall blockchain goals, spanning local government affairs, public services, and real-world economy applications, the plan consists of constructing a blockchain network and dedicated computing power clusters, but the government report did not mention the investment amount.

With the ambition of making Shanghai a global leader in digital-based economies, the plan was drafted by the Shanghai Municipal Commission of Economy and Informatization. Plans from other Chinese cities, such as Beijing, have also been announced to develop block-chain infrastructure.

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