The Shanghai municipal government has recently announced a new plan to support the technical development of blockchain in the city by the end of 2025. The goal behind this plan is to enhance trade activities and engage individuals in the Metaverse. To achieve this, the city has released an action plan that outlines its strategy.
Shanghai, being one of the prominent cities in China, understands the importance of continually evolving and staying competitive in today’s advancing world. Therefore, the municipal government aims to sustain its powerful position by becoming a key leader in the field of technology and science. Recognizing the significance of blockchain technology, the city has decided to focus on its development.
The action plan includes various aspects of blockchain technology that Shanghai aims to achieve breakthroughs in. These include cryptographic algorithms, blockchain security systems, smart contracts, storage, blockchain-specific processors, privacy computing, and regulations. The office of the Shanghai municipal government has provided these details.
By leveraging Web3 drive and focusing on the development of blockchain technology, Shanghai aims to become a key leader in the marketplace. The advancement in such technologies will provide crucial support for the construction of the municipal blockchain basic service platform and the growth of government affairs. Moreover, fields such as trade, finance, metaverse, supply chain, and data element circulation will also benefit from these developments.
The city has also shown positive response towards Zero-Knowledge proof technology and expects to address issues related to efficiency and usability. The government has announced plans to enhance the performance of Zero-Knowledge proof protocols.
To achieve the set goals by the end of 2025, the Shanghai municipal government plans to guide research institutes, universities, and companies working in the technological space. By doing so, the government aims to attract young blockchain talents and facilitate cross-industry exchange and growth opportunities.
Shanghai has been actively involved in the blockchain journey for some time now. Despite the ban on cryptocurrencies in China, Shanghai remains a key player in the market. The city previously outlined plans to enhance blockchain infrastructure in collaboration with Hong Kong and Singapore by the end of 2025. Additionally, partnerships with Chinese tech giants like Tencent and Alibaba have been formed to focus on the development of consortium blockchains.
With its continuous efforts towards technology and advancement, Shanghai is poised to bring something new, innovative, and effective to the world in the near future.
In conclusion, the municipal government of Shanghai has announced a new plan to achieve breakthroughs in blockchain technology by the end of 2025. This plan includes enhancing efficiency, infrastructure, and blockchain performance, which will have a positive impact on various sectors such as trade, finance, metaverse, supply chain, and data element circulation. The areas of focus include cryptographic algorithms, blockchain security systems, smart contracts, storage, blockchain-specific processors, privacy computing, and regulations. Shanghai’s commitment to technological development positions it as a significant player in the global blockchain landscape.
