China emblem and word "blockchain"

China to set up national blockchain research center in Beijing

According to local media, China’s Ministry of Science and Technology has given the green light to establish the National Blockchain Technology Innovation Center in Beijing to lead blockchain research and development. report.

See related article: China has seen the future of blockchain and it does not include cryptocurrencies

Fast facts

  • The center will be led by the Beijing Academy of Blockchain and Edge Computing (BABEC), a Beijing government-backed research institution and one of the developers of Chang’an Chain (ChainMaker) – The first open-source blockchain platform developed in China.
  • The new center will deal with the research and industrialization of blockchain technology, including fundamental theories, hardware and software development, and building blockchain platforms, according to the report.
  • No details were provided on the opening date of the center, its budget or its staff.
  • Early February, BABEC announced the development of the “Hive” computing cluster based on Chang’an Chain, which it claims is capable of processing more than 240 million smart contract transactions per second.
  • Despite a to forbid on cryptocurrencies, China sees block chain as an essential part of its digital infrastructure. In January, the Beijing government spear version 2.0 of its data repository based on Chang’an Chain, an application that collects information from more than 80 government departments in Beijing on-chain.
  • According to Blockchain White Paper (2022) published by the Chinese Academy of Information and Communications Technology (CAICT) in December 2022, China had more than 1,400 blockchain-related companies, accounting for more than 20% of the global total, with at least 29 cities and provinces including blockchain in their five-year plan for 2021-2025.

See related article: Jthere is evidence: Chinese courts use the blockchain judicial platform to store data

Leave a Comment

Your email address will not be published. Required fields are marked *