With unbridled global ambition and unparalleled energy, Shanghai is determined to win the global, technological and economic race by 2025. In its plan recently released by China’s Ministry of Industry and Information Technology and Cyberspace Central Affairs Office, the city eloquently and elegantly paints its intention to establish itself as the world leader in blockchain. Geopolitically, it is a comet. The Chinese dragon seems determined to overthrow the monopolistic structure that characterizes the blockchain industry and get ahead of the United States. Details.
Pujiang Digital Chain blockchain deployment in 2025
For Shanghai, 2025 will be the year of all the big surprises in the field of digital technology. The Shanghai 2025 plan published on July 31, 2023 provides for the establishment of a blockchain digital infrastructure for the city.
Blockchain Pujiang Digital Chainsince that’s what it will be called, will embed various features such as data identification, digital payments, supervision, etc.
It will also be the subject of a certain number of practical integrations, in particular that of the Yangtze River Delta, which is made up of 27 cities and represents nearly 20% of Chinese GDP with significant potential for attracting investment. foreign direct.
Several other integrations will also be made to the blockchain Pujiang Digital Chain after its implementation in 2025, including municipal services, public services and industrial services. With this battery of innovations in sight, blockchain will make the region a center of attraction both technologically and commercially.
Pujiang Digital Chain 2025: Chinese local governments involved
To enable the implementation of this plan, all means are made available. According to the communication issued by the Shanghai authorities, local governments are expected to support through various measures.
These include, among others, the construction of blockchain industrial parks, the implementation of various tax relief measures for blockchain startups, the design of specialized programs for higher education with the aim of sparking the rise of a pool of talent that will serve to keep the blockchain industry vibrant.
After the e-yuan, China is determined to dethrone the United States with its blockchain
After proving its dominance to the world through the launch of its central bank digital currency, China is more proactive than ever. In reality, this uninhibited ambition shown by the dragon is part of a purely geopolitical strategy and in a context of rivalry and hostility with the Western powers, in particular the USA.
After the digital yuan and its Chinese domination over world trade, it is therefore blockchain technology that serves as the front for this geopolitical rivalry. Indeed, it should be specified, according to recent statistics, China currently has more than 75,000 companies specializing in blockchain.
However, to date, the United States has still not solved the perennial regulatory problem in the industry. And if nothing is done soon enough, there is a good chance that China will unlock another level of supremacy in 2025 with its blockchain infrastructure.
China in 2025: an ambition that is both technological and economic
As you might expect, the deployment of China’s blockchain infrastructure in 2025 will not be an isolated event. On the contrary, it will be the catalyst for a series of rapid developments in various fields.
It will be recalled for the purposes of the case that in cities like Nanjing for example, the adoption of digital technology has caused other innovations such as the development of the metaverse.
Moreover, according to the timetable for the implementation of the Shanghai plan, China plans to use its future blockchain infrastructure to revolutionize the sectors of the economy, public governance and public services.
As such, it plans to bring to market a range of very popular blockchain-based products and services such as product tracing services, supply chain management services, data sharing, etc.
The plan also provided for the creation of 5 large enterprises with international scale as well as 3 to 5 powerful and famous parks for the blockchain industry.
Clearly, the goal is to have a global blockchain industry already ready and vibrant by 2025 with continuous developments that will enable a complete ecosystem to be in place by 2035. With such an ambitious plan, China expects s assert itself as an innovator and a leader both on the technological level and on the world economic level.
China returns to its “anti-crypto, pro-blockchain” policy
It should be noted that the proactive approach used by China in its progress in the field of digital technology has a rather striking characteristic. You have to see to believe, the recent ban on crypto financial services and crypto payment services.
For example, last weekend saw the blocking of a set of user accounts on social media platform Weibo, China’s Twitter, in a country that was once one of the biggest hotbeds for crypto activity. .
The blocked accounts had in common that they belonged to crypto influencers and had the words “bitcoin”, “BTC”, “Coin”, in their titles. When trying to access their accounts, users were simply notified that their account violated laws and regulations.
These accounts were blocked amid China’s harsh crackdown on crypto mining and trading in its territory. We therefore deduce that the country is pursuing a dual policy of developing and promoting the blockchain, while discouraging the use and adoption of crypto products. This is the famous blockchain acceptance and cryptocurrency rejection policy.
One thing is certain. China, through its future blockchain, will shake up global certainties in terms of digital technology and will give the e-yuan such superiority that other governments in the world will have no choice but to take inspiration from it to launch their CBDC effectively.
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