China Unveils 2029 Blockchain Plan for National Data Infrastructure
The Chinese government has unveiled a comprehensive plan to integrate blockchain technology into its national data infrastructure by 2029. The initiative aims to create a secure and accessible data management system, promoting transparency and innovation across various sectors.
At the core of this plan is the creation of blockchain-based data markets. These markets will facilitate the tokenization and secure trading of data assets, opening new revenue streams and driving large-scale exchange. The government aims to transform data management in key sectors such as finance, logistics, and healthcare through this technology.
The plan involves pilot projects in key regions between 2024 and 2026. These projects will test blockchain frameworks and decentralized applications in various sectors. By 2028, these projects are expected to evolve into integrated national networks that support secure and large-scale data exchange. A key element of the plan is the creation of 'trusted data spaces', designed to enable secure information exchange between various parties while ensuring data privacy and ownership.
The national data infrastructure that China plans to establish will support the collection, accumulation, transmission, processing, circulation, and security of data. The development of this blockchain infrastructure is estimated to have a significant impact on China's economy, driving key sectors such as e-commerce, financial services, and public administration. Despite its restrictive stance towards cryptocurrencies, China places blockchain at the center of its digital transformation strategy.
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