Shanghai Aims for Blockchain Tech Breakthroughs by 2025
In Brief
Shanghai has set an ambitious goal to reach significant advancements in blockchain technology by 2025.
The municipal government has released the “Shanghai Special Action Plan for Research on Key Blockchain Technologies (2023-2025)”, outlining its strategic approach to blockchain development, focusing on blockchain processors, smart contracts, cross-chains, and other technical fields.
Shanghai’s Innovative Breakthroughs
Shanghai aims to create a new generation of open permission chain technology systems and standards. The initiative is part of Shanghai’s broader plan to become a globally influential science and technology innovation center.
By advancing blockchain technology, the city hopes to revolutionize the social credit system and play a significant role in new technological revolutions and industrial changes. The plan also includes the creation of supernodes to offer technical support in areas like item circulation and data.
The city is positioning itself to leverage the development of digital trust infrastructure and Web3.0. It is committed to enhancing blockchain system security, cryptographic algorithms, and other technical areas to form a system that can support Web3.0.
This aligns with the city’s intention to lay a solid and secure technology foundation for the digital economy and the development of a new generation blockchain innovation ecosystem with global influence.
The action plan primarily targets three areas: new system architecture, resource planning and control, and increasing trust. The city will strive to organize research to boost the performance of the blockchain system. This will also optimize the development and operational environment, and enhance service support capabilities.
Plans are in place to back advanced theoretical research on blockchain system security. The city aims for global progress in secure and special acceleration chip technology.
Ramping Up Security and Efficiency
Efforts will also focus on enhancing blockchain’s confidential computing technologies. Shanghai aims to develop new protocols to eliminate communication efficiency bottlenecks in confidential computing, reduce overhead, and achieve quantum-resistant and provable security.
The municipal government calls upon relevant departments to contribute sincerely to the action plan’s implementation. Various research institutions, reference enterprise organizations, high-level research universities, and research institutes in the city anticipate their collaboration will strengthen joint research between industry, academia, and research. This united effort aims to propel the city’s blockchain technology to new heights.
In conclusion, Shanghai’s emphasis on advancing blockchain technology is a key move.
The city has outlined a thorough action plan for this purpose. This plan lays a robust groundwork for innovative breakthroughs in blockchain technology. It holds the potential to guide other cities and nations on the same path.
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About The Author
Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
