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November 30, 2020
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The city of Chengdu in China is heavily investing in the development of blockchain –

The two-year development plan for the city of Chengdu, China, includes as many as 30 new applications based on blockchain technology.

Chengdu is betting on blockchain

The Chinese city is trying to strengthen its management system for its structures. It plans to use blockchain technology for this.

Authorities in Chengdu, China plan to adapt blockchain to several systems across the city. It includes for management, cross-border trade, smart manufacturing and agriculture.

Now, during the 2020 World Innovation and Entrepreneurship Fair in Chengdu, the city’s first international blockchain trade fair, Lu Tiecheng, secretary of the Party Group of the Committee for New Economy in Chengdu, published Chengdu Blockchain Action Plan.

According to the local media service, Red Star News, this plan will now allow blockchain adoption applications from a variety of actors in a variety of fields such as education, healthcare, financial services and intellectual property. The authorities expect that approx “Two to three” blockchain cluster development areas in the city.

The plan also mentioned the usefulness of the blockchain when it comes to the legality of the technology, stating that officials expect “improvements [systemów] collecting data and promoting unified management, risk prevention and control “ in terms of urban operations.

The Party Group Secretary of the Committee on New Economy in Chengdu said that blockchain could additionally be used in medicine. He suggested that the technology could be used for electronic medical records, electronic prescription circulation, drug material verification, vaccine traceability and medical data sharing.

China is strengthening in the blockchain market

In an interview with The Paper Wu Zhongze, China’s former deputy minister of science and technology said that “There is not much difference between China’s position and leading economies such as the United States and Europe”when it comes to the development of blockchain technology.

We should also remember that the Middle Kingdom is at the forefront of CBDC. The digital yuan may appear on the market as early as 2021.

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