Shanghai Unveils Plan to Drive Blockchain Adoption
The Shanghai government has released an implementation plan aimed at boosting the growth of its urban blockchain infrastructure system. The plan, which will be implemented from 2023 to 2025, is designed to accelerate the city’s digital transformation and promote blockchain adoption in various sectors. Here are the key points:
– Focus on Pujiang digital chain: Shanghai plans to expedite the construction of Pujiang digital chain’s urban blockchain infrastructure system, with full operation expected by 2025.
– On-chain and cross-chain development: The system will offer rapid on-chain and cross-chain deployment capabilities, playing a pivotal role in government affairs, public services, and industry applications.
– Technical service capabilities: The initiative aims to develop a distributed blockchain open network and dedicated computing power clusters, enhancing the security of crucial information infrastructure and facilitating extensive blockchain application scenarios.
– Harmonizing blockchain network resources: The system will play a crucial role in harmonizing blockchain network resources in the Yangtze River Delta region while fostering the establishment of an international blockchain exchange hub.
– Implementation structure: The Pujiang digital chain project will adopt an implementation structure known as “1+1+1+X,” comprising computing power platform facility, public basic service platform, government affairs blockchain application system, and multiple benchmark scene applications.
Asian Crypto Hubs Expand Amid Regulatory Uncertainty
As regulatory uncertainty persists in the United States and other countries, Asian regions are solidifying their positions as major crypto hubs. Gemini, a cryptocurrency exchange, announced an expansion in the Asia Pacific region to strengthen its operations. Binance, the world’s largest exchange, is also refocusing its growth to Asia.
Hot Take
Shanghai’s implementation plan to drive blockchain adoption in various sectors shows the city’s commitment to embracing digital transformation. By developing a robust urban blockchain infrastructure system, Shanghai aims to enhance its operations and promote the use of blockchain technology in government affairs, public services, and industry applications. This initiative aligns with the growing trend of Asian regions positioning themselves as crypto hubs amidst regulatory uncertainty elsewhere. As Asian countries continue to prioritize blockchain innovation and investment, they are likely to attract more crypto-related businesses and become key players in the global crypto ecosystem.
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