The municipal authorities of the capital of China, Beijing, and the country's fifth largest metropolis, Suzhou, announced measures to encourage the integration of blockchain technology into the economic development of cities under their control.
Beijing has presented a 145-page document that reveals steps to implement the action plan for the development of blockchain innovations in 2020-2022. He describes the idea of the full integration of distributed applications in urban infrastructure.
The action plan aims to help the city strengthen blockchain research as a core technology. It is planned to create an open source technology platform on the basis of which the information infrastructure will be built.
The authorities also plan to help build a world-class research Institute and promote public services such as data exchange and business collaboration — a total of 140 different user cases.
Similar, but less ambitious goals are set by the authorities of the city of Suzhou, located near Shanghai. Xiangcheng district approved a policy for the development of blockchain technology. It covers nine aspects and includes 24 incentive measures.
Listed blockchain companies in China can apply for grants of 8 million yuan ($1.14 million). Laboratories, business incubators, and innovation spaces can count on 2 million yuan ($285,800). Specialists in the blockchain sphere who live in other countries are charged 3 million yuan ($428,700) for moving. The total Fund of such incentives will be 1 billion yuan ($142.9 million).
The initiatives of Beijing and Suzhou are a development of the initiative of Chinese President XI Jinping to turn the country into a world leader in the field of blockchain.
