China plans large-scale development of national data infrastructure based on blockchain

Mike Smith Jan 8

The PRC has announced its intention to complete the national data infrastructure project by 2029. A key element will be the use of blockchain technologies to manage systems, standardize data assets and certify transactions. This solution is aimed at creating a single information space, which should accelerate digital transformation and strengthen economic stability.

The National Development and Reform Commission, together with other government agencies, presented a guide containing recommendations for integrating blockchain solutions into various sectors of the economy. These technologies will improve transparency, security, and efficiency of interactions in both the private and public sectors. It is also planned to actively implement smart contracts to automate processes.

Despite the ban on cryptocurrencies and mining, China continues to develop blockchain, avoiding a link to tokens. The government believes that an approach without crypto assets allows it to take full advantage of technology while maintaining control over the system. Local authorities and companies have received support in testing and adapting new technologies as part of the creation of a modern digital infrastructure.

The annual investment in the project is expected to be about $54.5 billion, with the total investment over five years reaching $272.7 billion. These funds will be used to develop data protection platforms, implement blockchain programs, and other technology initiatives. The main emphasis is on the participation of domestic developers, which should stimulate the domestic innovation market.

Particular attention is paid to the fact that the digital infrastructure in the country is still at an early stage of formation. Government agencies say it is necessary to accelerate its development to ensure competitiveness and stable economic growth.

With plans to complete the project by 2029, China aims to create a comprehensive data ecosystem that will become an important tool for information management and the development of technology industries.