Shanghai Plans Blockchain Infrastructure Hub
The largest metropolis and financial hub in China, Shanghai, intends to develop a blockchain network by 2025, connecting it to Hong Kong and Singapore. The infrastructure will be used in digital assets, transportation, industrial internet-of-things, supply chain finance, and carbon management. The investment amounts remain unspecified.
In order to support the city’s blockchain objectives in managing local government affairs, public services, and real-world economy applications, the Shanghai plan calls for the construction of a blockchain network and specialised computing power clusters.
According to the strategy created by the Shanghai Municipal Commission of Economy and Informatization, Shanghai aspires to lead the world in the transition to digital-based economy.
(With inputs from Shikha Singh)
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