The Chinese Cyberspace Administration (CAC) has announced the launch of an internal effort to accelerate blockchain development and innovation across 15 regions and 164 divisions.

The initiative is aimed at the widespread adoption of blockchain technology in companies and government institutions in China.

The CAC, along with other government agencies, instructed regulators to “promote an expanded and balanced design of the blockchain technology infrastructure in the region, shape the ability to exchange data between industrial chains on a large scale, and promote the formation of a multilateral and collaborative blockchain.” industry environment”.

The forecast also included a list of cities, businesses and other organizations, pre-selected based on local and administrative recommendations, that will be directly involved in the blockchain pilot project.

An excerpt from the list of CAC blockchain pilot projects. Source: CAC
Key areas of blockchain development include manufacturing, energy, data exchange, data exchange, law enforcement, tax and criminal cases, inspections, copyright, civil society, human society, education, healthcare, trade finance, risk management, stock market, and crossroads. Frontier funding.

The publication also highlights the need for regulators to coordinate the progress and promotion of pilot projects “and take full advantage of the blockchain’s role in improving data sharing, improving business processes, reducing transaction costs, improving collaboration efficiency and building a reliable system. ”

Related Topics: China seeks to decouple NFTs from cryptocurrencies with new blockchain infrastructure

Despite taking a firm stance against cryptocurrency adoption, the Chinese government continues to show interest in related ecosystems, including blockchain and non-fungible tokens (NFTs).

Recently, the Blockchain-Based Service Network (BSN), a government-sponsored blockchain project in China, has been working with the infrastructure to support companies and individuals building NFT-focused platforms and applications.

According to Cointelegraph, the project aims to support the deployment of platforms capable of trading non-crypto NFTs through fiat currencies.

Source: CoinTelegraph