Beijing unveils plan to foster blockchain deployment

BEIJING - Beijing has unveiled an action plan to boost blockchain deployment, integrating the transaction data technology into the city's operations.

Under the Beijing Blockchain Innovation Development Action Plan 2020-2022, it is expected the city will initially become an influential new highland for blockchain innovation, application demonstration, industrial development and talent by 2022.

The plan outlines four key strategies and 20 specific tasks, including building platforms for theory and technology research, building and implementing multi-field application scenarios, and building a leading team of blockchain talent.

In finance and taxation, the city will focus on real estate registration and unified electronic bills.

Beijing is also planning to foster a business climate favorable to blockchain innovation and enterprises with great growth potential.

It will also set up a special fund to allocate government funding to blockchain projects.

Last October, China launched a nationwide blockchain-based service network to improve the layout of the sector and serve the development of smart cities and the digital economy.