Shanghai will create his own hub on the development of blockchain – Bits Media

The municipality of central subordination of the PRC Shanghai intends to create a center for the development of blockchain by the end 2025 of the year. The city also plans to establish ties with Hong Kong and Singapore in this direction.

After the creation of a hub on the development of blockchain, the authorities of Shanghai plan Apply a distributed registry technology for the development of the Internet of things, optimization and financing of supply chains, CO2 emissions and use of digital assets. It is still unknown, How much money is planning to invest Shanghai in creating a blockchain center.

At the same time, it is planned to create an infrastructure for the work of decentralized networks. For this, separate computing clusters will be allocated. The authorities hope, that Shanghai will become a leader in the direction of the blockchain, what, in its turn, will help transfer the city economy to digital rails.

Last summer, the Shanghai authorities drew attention to the potential of Web3 and metavselnaya. Then the city announced investment plans $52 billion in the development of the metavselnaya industry.