China Unveils Blockchain-Driven Data Infrastructure Plan by 2029
China's National Development and Reform Commission (NDRC) has unveiled a comprehensive plan, the 'Guidelines for the Construction of National Data Infrastructure', aiming to integrate blockchain technology into the nation's data management system by 2029.
The plan, set to roll out between 2024 and 2026, will initially focus on pilot projects in key regions. These projects will explore blockchain frameworks and decentralized applications across various sectors, including finance, logistics, and healthcare. By 2028, these pilots are expected to evolve into integrated national networks supporting secure and large-scale data exchange.
A key aspect of the plan is the creation of 'trusted data spaces'. These will enable secure information exchange between parties, ensuring data privacy and ownership. The ultimate goal is to create a robust data management system that supports the collection, accumulation, transmission, processing, circulation, and security of data for both citizens and businesses.
Blockchain will serve as a cornerstone of China's national data infrastructure, driving innovation and opening new revenue streams through blockchain-based data markets. The integration of blockchain seeks to foster innovation in key sectors, with the NDRC's plan setting a clear roadmap for its implementation by 2029.
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