Blockchain
China’s National Blockchain Research Center, which launched on Wednesday, plans to train at least 500,000 blockchain professionals for China’s Web 3.0 industry. It will work with universities, research institutes and companies in providing training to support the country’s digital economy.
See related article: How Web3 is shaping up in China — with ‘Chinese features’
Quick Facts
- The National Blockchain Research Center in Beijing, which is supported by the Ministry of Science and Technology, will conduct research and industrialization of blockchain technology. It also aims to establish a national-level blockchain network that will connect existing blockchains in China and support other industries.
- China’s current blockchains remain isolated from each other, slowing down the digital economy, Zheng Zhiming, an academic at the Chinese Academy of Sciences, said in a Xinhua report, adding that a unified blockchain ecosystem is needed that can expand the space covers.
- The center is led by the Beijing Academy of Blockchain and Edge Computing, a research institution backed by the Beijing government and one of the developers of Chang’an Chain – China’s first domestically developed open-source blockchain platform.
- Despite China’s ban on cryptocurrency trading, the country continues to see blockchain technology as a tool for industries and government administration. The State Council, in its December 2021 14th Five-Year Plan, identified the blockchain as one of the seven key development areas for China’s digital economy.
- In February, the Beijing government launched the 2.0 version of its data directory based on the Chang’an Chain, gathering information from more than 80 government departments in the capital on chain.
- In Hong Kong, the city established the Institute of Web 3.0 in April to focus on digitizing traditional industries and the virtual asset economy that includes cryptocurrencies and non-fungible tokens.
See related article: Chinese state-owned company launches crypto funds in Hong Kong