Signifying China’s continued commitment to the cryptocurrency sector, there is blockchain infrastructure development in Shanghai expected in 2025.
China continues its “strategic goal” of digital development in Shanghai. The Chinese city is set to encourage and apply blockchain technology to its economy and public services.
Shanghai wants to have blockchain infrastructure by 2025
In another example of the country’s commitment, China is moving forward with plans to develop blockchain infrastructure for one of its largest cities, Shanghai.
The governor of Shanghai announced the plan and its implications in the short and long term future.
Specifically, China is set to develop blockchain infrastructure in Shanghai by 2025. However, the government’s official update says the plan is to “strengthen the application of blockchain in the real economy” . As well as using that application in other areas.
The update notes the city’s view that “blockchain is an important breakthrough for independent innovation of core technologies.”Then talk about its important role in Shanghai’s technological development.
Furthermore, plans are set to introduce “rapid on-chain and cross-chain deployment capabilities.” Additionally, it was noted that “groundbreaking progress has been made in the core technology of blockchain,” which the city will put to use.
China is taking similar actions in different cities. They have used this type of digital technology in cities like Nanjing, which has spawned a series of metaverse developments. Additionally, Zhengzhou has launched similar metaverse activities to support the growing sector.
