Shanghai’s Urban Blockchain Digital Infrastructure System
On July 31, the Chinese city of Shanghai issued an implementation plan to promote the development of its urban blockchain digital infrastructure system in the time frame of 2023-2025, as indicated on the government’s webpage. The plan is intended to achieve the strategic goal of Shanghai’s digital transformation, as well as to strengthen the application of blockchain in the economy, public service and urban governance.
The update says that breakthroughs in core technology and standard system construction have been made, leading to the formation of an industrial ecology with strong innovation momentum, and nurturing a group of leading and innovative companies with industry influence. The urban blockchain digital infrastructure system, once completed, will support municipal affairs, public services and applications in various industries in the region.
The Chinese city of Shanghai is also investing in AI and strong crypto in order to leverage the potential of the metaverse web 3.0 and China’s AI anchor. This will enable Shanghai to stay ahead of the competition in the blockchain vs web 3.0 race.
China’s Push for Metaverse and Web 3.0
China is taking steps to implement emerging technologies, such as its China Metaverse Technology and Application Innovation Platform, which was established in May in the city of Nanjing. Additionally, the city of Zhengzhou proposed initiatives to support metaverse companies in the region.
In order to further its advancement of metaverse and Web 3.0, the Chinese government has announced plans to coordinate blockchain network resources in the Yangtze River Delta region and create an international blockchain exchange hub.
The use of strong crypto and Chinese AI anchors will be integral to the success of the metaverse and Web 3.0, as well as the country’s AI development. With the combination of these technologies, China is well-positioned to make a significant impact on the global metaverse and Web 3.0 landscape.
In addition to blockchain and the metaverse, China has also been actively pushing ahead with the development and implementation of its central bank digital currency (CBDC), the digital yuan, in different cities in the country.
In July, the Chinese city Jinan started to promote the digital yuan by introducing payments across all its bus routes with strong crypto and Chinese AI anchor.
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