{"id":128205,"date":"2025-04-29T13:31:55","date_gmt":"2025-04-29T13:31:55","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128205"},"modified":"2025-04-29T13:31:55","modified_gmt":"2025-04-29T13:31:55","slug":"beijing-to-invest-in-blockchain-integrate-into-infrastructure","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128205","title":{"rendered":"Beijing to invest in blockchain, integrate into infrastructure"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe Beijing city administration has announced a plan for local blockchain development and implementation over the next two years.<br \/>\nAccording to an April 29 announcement, the plan was jointly developed by the Beijing Municipal Science and Technology Commission, the Zhongguancun Administrative Committee, the Cyberspace Administration Office, the Bureau of Government Services and Data, the Bureau of Economy and Information Technology and the Bureau of Commerce. The implementation is expected to start this year and continue until 2027.<br \/>\nThe announcement. Source: Beijing governmentThe Beijing Blockchain Innovation and Application Development Action Plan recognizes blockchain as a \u201ccritical foundational technology for industrial digitalization and vital digital infrastructure.\u201d<br \/>\nNotably, the objectives also include plans to \u201cenhance the value extraction from digital assets through blockchain,\u201d which may indicate crypto mining. The announcement also claims that the city has already invested heavily in this area of research:<br \/>\n\u201cBeijing has significantly progressed in autonomous blockchain technology development and application scenarios.\u201c<br \/>\nRelated: An overview of China\u2019s digital yuan<br \/>\nBeijing bets on blockchain for economic growth<br \/>\nThe plan involves developing blockchain software that targets breakthroughs in cryptography, confidential computing and distributed systems. The project also includes the development of blockchain infrastructure, including national blockchain hub nodes and platforms for trusted digital identity and distributed data directories.<br \/>\nIndustries targeted for blockchain application include healthcare, education, large artificial intelligence models, financial services and transportation. The objective is to enhance efficiency and trust:<br \/>\n\u201cThe aim is to optimize business processes, ensure trustworthy data sharing, and innovate service models, establishing benchmark applications to drive broader blockchain adoption.\u201c<br \/>\nRelated: Trump\u2019s crypto push vs. Xi\u2019s digital yuan: What it means for the future of money<br \/>\nOne blockchain, one network, one platform<br \/>\nThe announcement cites the \u201cone blockchain, one network, one platform\u201d principle. By 2027, the project aims to implement dedicated blockchain chips, privacy protection features, crosschain interoperability and distributed networking.<br \/>\nThe project hopes to achieve petabyte-scale trusted node storage, large-scale blockchain interoperability, and a hundred-million-user-scale interoperable trusted identity system. The announcement promises the development of at least 20 blockchain use cases.<br \/>\nThe announcement follows\u00a0Beijing\u2019s release of a white paper\u00a0to foster innovation and advance the Web3 industry in May 2023. The \u201cWeb3 Innovation and Development White Paper\u201d recognized Web3 technology as an \u201cinevitable trend for future Internet industry development.\u201c<br \/>\nThe commission behind the paper hoped to establish Beijing as an innovation hub for the digital economy and planned to allocate a minimum of 100 million yuan ($14 million) annually until this year.<br \/>\nMagazine: Illegal arcade disguised as \u2026 a fake Bitcoin mine? Soldier scams in China: Asia Express<a href=\"https:\/\/cointelegraph.com\/news\/beijing-to-invest-in-blockchain-integrate-into-infrastructure-and-host-nodes?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe Beijing city administration has announced a plan for local blockchain development and implementation over the next two years. According to an April 29 announcement, the plan was&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128205"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128205"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128205\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128205"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}