A special Fund for blockchain development will be launched in Beijing

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

The Beijing municipal authorities presented a ” Plan for the development of blockchain initiatives in Beijing (2020-2022)”. The initiative aims to fully integrate blockchain-based services and applications into the public life of Beijing. The plan also involves launching a Fund that will invest in and support blockchain projects. This will help the city become the center of the blockchain industry.

In addition, the Beijing authorities will support research and development in the field of distributed registry technology, as well as the use of blockchain in the work of municipal institutions and ministries. With the help of 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 blockchain innovation, technology demonstration, industry development, and talent search in the field of new technologies. It will become a leader in creating an economy based on blockchain, ” the statement says.

Recall that in early March, the tax service of Beijing officially announced the introduction of a blockchain for billing taxpayers.