China Plans to Become Center for Blockchain Implementations

China plans to become the hub for Blockchain applications. Capital Beijing is aimed to be fully integrated with blockchain applications. Beijing, the capital of China, aims to become the hub for blockchain innovation by integrating the city's economic development with new technology in the next two years. In the announcement by the Beijing municipality last week, the new initiative called "Beijing Blockchain Innovation Development Action Plan (2020-2022)" was introduced. According to the news Blockchain Platform of Turkey, described these plans together with Beijing, which fully integrates with the application blockchain wants to be the first city. The action plan underlines that a special fund will be set up, especially in order to invest in blockchain projects and make these projects public. All stages will be implemented as part of turning Beijing into a blockchain center.

Data Validation and Sharing Technologies

Beijing municipality has stated that it will support blockchain research and development in this process. It will encourage government institutions and financial service companies to develop issues such as data validation or sharing technologies. The capital's municipality will ensure the use of blockchain technology for the city's infrastructure development time and integration with public services. Beijing is one of the rare cities to publicize plans for China to become a hub for blockchain innovation. Built from scratch as part of Chinese President Xi Jinping's vision of building a smart city, Xiong'an has already integrated the city blockchain technology into infrastructure construction, financing and other government initiatives. It is aimed to be one of the leading cities where technology is used in 2022 by acting in parallel with this vision.