Blockchain technology is one of the most promising and innovative fields in the digital economy. It has the potential to transform various industries, such as finance, logistics, healthcare, and e-commerce, by enabling secure, transparent, and efficient transactions and data sharing. Blockchain technology can also enhance the competitiveness and innovation of cities, regions, and countries.
Shanghai, as one of the most dynamic and influential metropolises in China and the world, has recognized the strategic importance of blockchain technology and has set ambitious goals to become a global leader in this field. In June 2021, the Shanghai Municipal Government issued the “Shanghai Blockchain Industry Development Action Plan (2021-2025)”, which outlines the vision, objectives, and measures to promote the development of a blockchain infrastructure system in Shanghai.
The action plan aims to build a comprehensive and integrated blockchain infrastructure system that covers four aspects: basic facilities, application platforms, industrial ecology, and supervision mechanisms. The basic facilities include hardware devices, network facilities, cloud services, data centers, and security systems that support the operation of blockchain applications. The application platforms refer to the software systems that provide blockchain services for various industries and scenarios, such as digital identity, supply chain management, digital assets, smart contracts, and cross-border payments.
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The industrial ecology refers to the network of stakeholders that participate in the blockchain industry, such as developers, service providers, users, investors, regulators, and industry associations. The supervision mechanisms refer to the legal frameworks, standards, policies, and institutions that regulate and guide the development of the blockchain industry.
The action plan sets specific targets for each aspect of the blockchain infrastructure system by 2025. For example, it aims to establish 10 blockchain innovation centers, 50 blockchain application demonstration projects, 100 blockchain enterprises with core competitiveness, and 300 blockchain patents. It also aims to cultivate 10 leading blockchain talents, 1000 blockchain professionals, and 10,000 blockchain practitioners.
To achieve these targets, the action plan proposes a series of measures and initiatives to support the development of the blockchain infrastructure system in Shanghai. These include:
Strengthening the top-level design and coordination of the blockchain industry development.
Enhancing the research and innovation capabilities of blockchain technology.
Accelerating the application and integration of blockchain technology in various industries.
Improving the quality and standards of blockchain products and services.
Fostering a healthy and vibrant blockchain industrial ecology.
Establishing a sound and effective blockchain supervision system.
Promoting the international cooperation and exchange of blockchain technology.
As a global financial center and an international metropolis, Shanghai has a strong demand for the application and development of blockchain technology. In order to seize the strategic opportunities of the digital economy, promote the high-quality development of Shanghai’s economy and society, and enhance Shanghai’s core competitiveness and innovation capability, the Shanghai Municipal People’s Government has formulated the following goals and targets for the development of blockchain technology in Shanghai by 2025.
- Build a world-class blockchain innovation ecosystem. By 2025, Shanghai will have more than 300 blockchain enterprises, more than 10 blockchain industry associations and alliances, more than 50 blockchain research institutions and platforms, and more than 100 blockchain experts and talents. Shanghai will also host more than 20 blockchain-related events annually, such as forums, exhibitions, competitions, and hackathons, attracting more than 100,000 participants from home and abroad.
- Promote the application and integration of blockchain technology in key areas. By 2025, Shanghai will have more than 100 blockchain application scenarios in various fields, such as finance, trade, logistics, public services, and social governance. Shanghai will also explore the integration of blockchain technology with other emerging technologies, such as artificial intelligence, big data, cloud computing, internet of things, and 5G, to create new business models and value propositions.
- Enhance the standardization and regulation of blockchain technology. By 2025, Shanghai will have established a sound legal and regulatory framework for blockchain technology, covering aspects such as data security, privacy protection, intellectual property rights, anti-money laundering, and consumer rights. Shanghai will also participate in the formulation of national and international standards for blockchain technology and promote the interoperability and compatibility of different blockchain platforms and systems.
- Strengthen the international cooperation and exchange of blockchain technology. By 2025, Shanghai will have established close partnerships with leading blockchain organizations and institutions around the world, such as the World Economic Forum, the International Organization for Standardization, the Blockchain Research Institute, and the Hyperledger Foundation. Shanghai will also actively participate in global blockchain initiatives and projects, such as the Belt and Road Blockchain Consortium, the Digital Currency Electronic Payment System, and the Global Blockchain Business Council.
Shanghai is committed to becoming a pioneer and leader in the development of blockchain technology in China and the world. Shanghai welcomes all kinds of blockchain enterprises, institutions, experts, and enthusiasts to join us in this endeavor. Together, we can create a new era of digital innovation and transformation for Shanghai.
The plan demonstrates Shanghai’s ambition and vision to become a leading city in the global blockchain arena. By developing a blockchain infrastructure system, Shanghai hopes to enhance its competitiveness, innovation and social welfare. Shanghai also hopes to contribute to the national strategy of building China into a blockchain powerhouse.