This Wednesday, the National Blockchain Technology Center was inaugurated in Beijing, which aims to train 500,000 specialists in this area and create a national network connecting existing blockchains, boosting research and industrialization of this technology.
The center will be responsible for building large-scale computing power clusters and collaborating with local universities and enterprises to develop blockchain technology in China, thus promoting the digital economy. Currently, blockchains in Asian countries are isolated, but a unified ecosystem would solve this problem.
Zheng Zhiming, a professor at Beihang University’s School of Mathematics and Systems Science, stressed that “connecting blockchain application platforms and developing an application ecology will significantly improve innovation capabilities and core competitiveness.”
Although China has outlawed all cryptocurrency-related transactions and shut down mining centers, the country sees blockchain technology as an important tool for various industries. In December 2021, China’s State Council classified blockchain as one of the seven major development areas for the country’s digital economy.
In addition, Beijing is forging ahead with its own digital currency project, the digital yuan. Unlike cryptocurrencies, this Chinese digital currency, whose development began in 2014, is under government control through the People’s Bank of China.