The Chinese city of Beijing plans to become a blockchain innovation hub within 2 years.
To this end, the city's municipal government announced on June 18 the launch of the "Beijing Blockchain Innovation Development Action Plan (2020-2022)" initiative, which aims to make Beijing one of the first cities in the country to be fully integrated with blockchain apps.
In particular, the initiative aims to create a special fund to invest in blockchain projects and to support projects to get them listed.
In addition, the initiative also aims to support research and development of blockchain tech, encourage government agencies and financial services companies to adopt the technology for verifying and sharing data, and promote integration with the city's infrastructure and public service construction processes.
Beijing is one of the few Chinese cities that has publicly announced its intention to become a blockchain innovation hub. However, it is not the first, as the city of Xiong'an has already integrated cryptos' underlying technology into infrastructure construction, funding and other government initiatives.
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