In a move that reinforces its position as a global technology leader, China has announced an ambitious plan to integrate blockchain technology into its national data infrastructure, with the goal of completing its implementation by 2029.
This project, presented by the National Development and Reform Commission (NDRC), seeks to transform data management in the country, improving transparency, security and efficiency in key sectors such as finance, logistics and health, through blockchain.
The initiative, called “Guidelines for Building National Data Infrastructure,” places blockchain at the center of China's digital transformation strategy. Although the country has maintained a restrictive stance towards cryptocurrencies, banning their trading and mining since 2021, it has proactively adopted permissioned blockchain applications, which are not dependent on tokens and are centrally controlled by the government.
The policy document, published on January 8, details a phased approach to the implementation of blockchain-based data infrastructure. Between 2024 and 2026, pilot projects will be carried out in key regions, testing blockchain frameworks and decentralized applications in various sectors, including finance and green energy. By 2028, these projects are expected to evolve into integrated national networks that support secure, large-scale data sharing.
One of the most notable elements of the plan is the creation of “trusted data spaces,” designed to enable the secure exchange of information between various parties, ensuring data privacy and ownership.
These spaces will address governance challenges by ensuring traceability and data integrity in sectors such as e-commerce, logistics and financial services. Additionally, blockchain-based data marketplaces will facilitate tokenization and secure trading of data assets, opening new revenue streams and driving large-scale sharing.
Since 2021, the Chinese government has banned cryptocurrency trading and mining, citing concerns about financial stability and energy consumption associated with these activities. However, this ban has not stopped the country's interest in blockchain applications. Instead, China has been exploring how this technology can be used in various sectors, including data management and improving public services.
A notable aspect of these efforts is the development of its own blockchain infrastructure, known as the Blockchain Services Network (BSN), which aims to provide a secure and accessible environment for companies and government entities to implement solutions based on this technology.
The Chinese government has identified several key objectives for this initiative to integrate blockchain technology into its national data infrastructure. First of all, it seeks to create a data management system that is secure and accessible to citizens and companies.
By using blockchain, China ensures that data is immutable and verifiable, which is essential to establishing trust between users. This greater transparency could also facilitate the fight against corruption and improve the efficiency of public services.
Secondly, the plan aims to encourage innovation in various sectors. For example, in the field of finance, blockchain could streamline processes such as identity verification and transaction management, reducing costs and time. In logistics, it would allow more precise monitoring of supply chains, while in the health sector, it could improve the management of medical records and interoperability between institutions.
The national data infrastructure that China plans to establish is a comprehensive system that will support data collection, accumulation, transmission, processing, circulation and security. This perspective aligns with global trends towards digitalization and responds to the country's internal needs to optimize its digital economy.
As China moves toward a more digitalized economy, strategic use of blockchain can help mitigate risks associated with improper or fraudulent handling of information. Furthermore, by integrating blockchain into its national infrastructure, China seeks to improve its internal processes and position itself as a leader in technological innovation globally. The potential applications are vast and include everything from efficient supply management to advanced systems for public health.
The development of this blockchain infrastructure will have important technological implications and a significant impact on the Chinese economy. It is estimated that by 2029, the national data market will reach considerable value, boosting key sectors such as e-commerce, financial services and public administration.
This digital transformation will not only optimize public services and promote greater government transparency, but could also increase public trust in state institutions.
China's commitment to blockchain has both domestic and global repercussions. By leading the development of infrastructure based on this technology, China could influence international data management standards, encouraging other countries to adopt similar approaches and accelerating global blockchain adoption.
Furthermore, this initiative reinforces China's positioning as a technological power. By investing in digital infrastructure and fostering innovation, the country could attract more foreign investments and strengthen its competitiveness in the global market, thereby redefining international trade relations by collaborating with partners offering advanced technological solutions.
Source: César Villullas / bit2meCryptonews.
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