Shanghai unveils action plan to accelerate blockchain development
Shanghai has unveiled a comprehensive action plan designed to accelerate blockchain’s technical development within the city by 2025. This initiative is part of Shanghai’s broader push to advance web3 technologies and aligns with China’s ongoing support for domestic blockchain solutions, despite the crypto ban implemented last year. According to a Sep. 27 statement from the Shanghai municipal government, the plan focuses on achieving significant progress in several facets of blockchain technology. These areas encompass system security, cryptographic algorithms, blockchain-specific processors, smart contracts, cross-chain functionalities, storage solutions, privacy computing, and regulatory frameworks. The city aims to leverage these technological advancements to bolster various key sectors, including government affairs, cross-border trade, supply chain management, finance, the metaverse, and data element circulation. You might also like: US regulatory stan...