China’s national blockchain research center, which opened on Wednesday, intends to train at least 500,000 blockchain specialists for the country’s Web 3.0 business. 

The research center will conduct training in collaboration with universities, research institutions, and businesses to enhance the country’s digital economy. 

As soon as China’s plans to create a blockchain army by training with the help of a national blockchain research center hit the social world, users from US and other countries started questioning the efforts of these countries to improve blockchain services for them. 

As different countries globally step in the Web 3.0 infrastructure and launch new regulations for crypto and blockchain, the race for advancing blockchain solutions of many countries has already begun, and China’s seems to be nowhere behind. 

Keeping up with China’s efforts to revolutionize its approach to blockchain and become a powerhouse for the same, we have yet to see how other countries work on advancing and strengthening.

Also Read: Hong Kong’s Crypto Aspirations Recieve Subtle Support From Beijing

China’s National Blockchain Research Center Plan of Action:

In April, the city of Hong Kong founded the Institute of Web 3.0 to work on the digitalization of traditional businesses as well as the virtual asset market, which includes cryptocurrencies and non-fungible tokens.

Following this approach, the Ministry of Science and Technology announced that it will support the national blockchain research center in Beijing. The research center will use this support to unfold its plans for performing blockchain technology research and industrialization. 

It also intends to build a national-level blockchain network to connect current blockchains in China and serve other industries.

The center is run by the Beijing Academy of Blockchain and Edge Computing, a research institute supported by the Beijing government and one of the developers of Chang’an Chain, China’s first open-source blockchain platform developed in-house.

Current Chinese blockchains are isolated from one another, slowing the digital economy. Zheng Zhiming, an academic at the Chinese Academy of Sciences, while considering this isolation, mentions in a Xinhua report that a unified blockchain ecosystem covering a greater territory will be required.

Despite the country’s ban on cryptocurrency trading restricting many energy-consuming projects, China sees blockchain technology as a tool for enterprises and government administration. 

The State Council named blockchain as one of seven important areas of development for China’s digital economy in its 14th five-year plan, which was released in December 2021. 

The Beijing government also released the 2.0 edition of its data directory based on the Chang’an Chain in February, collecting data from over 80 government departments in the capital city on chain. 

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