Beijing, China has unveiled its plan to become a Blockchain-hub by 2022. The state plans to launch a blockchain-based platform for venture financing, banking and overall e-governance.
For the record, the capital city has released a 145-page plan to elaborate its inclusions and goals. Beijing is to develop a system for digital governance and to allow data sharing between agencies and enterprises. The system would also open up new horizons for cross-regional collaboration.
Beijing & Blockchain
The applications of Blockchain are limitless. Chinese capital city, Beijing is all geared up to transform everything from financial platforms for small businesses, airports, customs & associated services, and even general municipal and government services for the citizens.
Chinese ventures and businesses are leading the world with the highest applications registered for Blockchain patents. Blockchain jobs have also been included in the official list of occupations by the Ministry of Human Resources and Social Security of China.
Long wait times concerned with current digital and paper-based can be eliminated with the help of central ledger where ports and customs can see shared data and plan their actions accordingly. Solutions, including identity authentication and reimbursement tracking, will be provided for baking and billing queries.
The plan would benefit small and medium businesses with better access to capital and money lenders could analyze and control risk via the ledger. The project involves the implementation of Blockchain by over 100+ government branches for managing everything to support tech-joints. The success of this objective could also benefit private organizations. They have also planned to build a new dedicated fund to aid new and emerging blockchain startups and to open up multiple Blockchain development parks.