China’s capital city, Beijing, has launched a two-year plan to boost blockchain development and adoption across key industries.
The Beijing city administration has announced a plan for local blockchain development and implementation over the next two years.
According to an April 29 announcement, the plan was jointly developed by the Beijing Municipal Science and Technology Commission, the Zhongguancun Administrative Committee, the Cyberspace Administration Office, the Bureau of Government Services and Data, the Bureau of Economy and Information Technology and the Bureau of Commerce. The implementation is expected to start this year and continue until 2027.
The Beijing Blockchain Innovation and Application Development Action Plan recognizes blockchain as a “critical foundational technology for industrial digitalization and vital digital infrastructure.” Notably, the objectives also include plans to “enhance the value extraction from digital assets through blockchain,” which may indicate crypto mining. The announcement also claims that the city has already invested heavily in this area of research:
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