Shanghai Set to Take the Lead in Blockchain

Shanghai aims to enhance its digital urban infrastructure system with blockchain technology from 2023 to 2025, according to a plan revealed on July 31.

Through the plan, the city seeks to advance its digital transformation and promote blockchain adoption in various areas, such as the economy, public services, and urban governance.

By 2025, the authorities intend to have the urban blockchain digital system powered by the Pujiang digital chain fully operational, as the website update discloses.

Various aspects of Shanghai’s operations, such as government affairs, public services, and industry applications, will benefit from the system’s fast on-chain and cross-chain deployment capabilities.

They are working on a distributed blockchain network that can provide various technical services, such as the main network, nodes, subnets, data identification, digital payment, and a supervision sandbox. Their network also has a dedicated computing power cluster to support its operation.

The goal of this initiative is to protect the essential information infrastructure in urban settings and foster the development of various blockchain applications.

The system will also enable the alignment of blockchain network resources in the Yangtze River Delta region of China and contribute to the formation of a worldwide center for blockchain exchange, according to the authorities.

The project will use a “1+1+1+X” structure, which includes one facility for computing power, one platform for public basic services, one system for blockchain applications in government affairs, and multiple applications for key scenarios, to realize the Pujiang digital chain vision.

I am Vishal. I post articles about the cryptocurrency markets. I'm pursuing a BBA degree. My home is in Navi Mumbai, Maharashtra.I'm constantly interested in new advancements in this industry and I learn something new about it every day. I would love to share such information with you all.

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