Beijing Publishes Blueprint to Build A Blockchain Programmable Government Within Two Years

2020-7-17 16:16

The Beijing Municipal government has released a 145-page blueprint in line with a plan to build a blockchain-programmable government within the next two years. This move will set Beijing to become a leading blockchain hub, a step that might get traction following the new Hong Kong laws that have since exposed entities within its jurisdiction to the risk of sanctions.

Notably, Beijing had already launched ‘the “Beijing Blockchain Innovation Development Action Plan (2020-2022),” as the Chinese capital looks to take center stage in blockchain development.

According to the blueprint, Beijing's move into a blockchain support ecosystem was motivated by the potential of this tech in enhancing collaboration between various agencies in processes such as data sharing. Also, the city is optimistic about reaping the trust benefits of operating on blockchain-built ecosystems based on the aspect of decentralization.

Currently, over 140 government agencies in China use blockchain for information sharing, including epidemic control specialists as the Asian giant recovers from its COVID-19 economic downturn, blockchain tech, and digital currencies seem to be part of the recovery strategy. Just a few months ago, a digital yuan (CBDC) was rolled in efforts to match the digital currency market innovations.

The integration of blockchain within Beijing's current networks will further boost its intention to become a global blockchain hub. Though still at its early development, Beijing's local authorities noted that they would continue to support innovations within the blockchain sector, especially those focused on building a blockchain-based programmable government. Going by this latest development, Beijing seems to be on track in following through an earlier announcement signaling its goal to optimize blockchain tech,

“By 2022, Beijing will become an influential blockchain technology innovation center, application demonstration center, industrial development center, and innovative talent center, taking the lead in forming the ‘Beijing Plan' for blockchain-enabled economic and social development.”

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