China Proposes National Blockchain Network for Economic Integration
- China aims to create a national blockchain network to integrate its real and digital economies.
- The initiative seeks to enhance data property ownership and manage digital resources efficiently.
- The plan supports the “East data, West computing” project, relocating computing centers to western regions.
- In recent years, China has designated pilot zones for blockchain applications in cities like Beijing and Shanghai.
- As of now, over a hundred entities including hospitals and universities are involved in blockchain projects.
China’s proposed national blockchain network is part of its strategy to boost productivity through scientific innovation. The focus on blockchain technology underscores its role in integrating real and digital economies by improving data management systems.
This move aligns with China’s ongoing efforts since President Xi’s endorsement in promoting blockchain as a core technology for independent innovation. (Source)
