Beijing to launch a special fund for the development of blockchain

As part of the blockchain development program in China, the authorities of the country's capital will launch a special fund for the development oftechnology. By 2022, Beijing should become the center of the blockchain industry.

Beijing Municipal Authorities Unveiled “Plan forthe 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 center of the blockchain industry.

In addition, Beijing authorities will supportresearch 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 verify and share data, as well as use the technology in creating infrastructure and developing public services.

“By 2022, Beijing will become a center for innovation inblockchain areas, demonstrations of the application of technology, industry development 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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