A special fund for blockchain development will be launched in Beijing

beijingAs part of the blockchain development program in China, the capital’s authorities will launch a special fund for the development of technology. By 2022, Beijing should become the centre of the blockchain industry.

Beijing Municipal Authorities Presented a “Plan for the Development of Blockchain Initiatives in Beijing (2020-2022).” The initiative aims to fully integrate blockchain-based services and applications into Beijing’s public life. The plan also involves the launch of a fund that will invest in and support blockchain projects. This will help the city become the centre of the blockchain industry.

In addition, the Beijing authorities will support research and development in the field of distributed registry technology, as well as the use of blockchain in the work of municipal institutions and ministries. Using the blockchain, it is planned to check and share data, as well as use the technology in creating infrastructure and developing public services.

“By 2022, Beijing will become a centre for innovation in the field of blockchain, demonstration of the application of technology, development of the industry and the search for talent in the field of new technologies. He will become a leader in creating an economy based on the blockchain, ”the statement said.

Recall that in early March, the Beijing tax service officially announced the introduction of a blockchain for billing taxpayers.

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