Shanghai, a city in China, issued an implementation plan on July 31, 2023, to support the development of its urban blockchain digital infrastructure system between 2023 to 2025, stated Cointelegraph.
Sources revealed that the announcement mentions that the plan was made as a part of the “strategic goal” of Shanghai’s urban digital transformation. It is expected that the plan might be able to strengthen the use of blockchain in the economy, public service and urban governance, Cointelegraph added.
“Breakthroughs in blockchain core technology and standard system construction have been made, leading to the formation of an industrial ecology with strong innovation momentum, and nurturing a group of leading and innovative companies with industry influence,” as per insights from the announcement.
Furthermore, as per the announcement, the new plan is expected to help with the coordination of blockchain network resources in the Yangtze River Delta region of China and create an international blockchain exchange hub, Cointelegraph concluded.
(With insights from Cointelegraph)