May 16, 2023
By Sharan Kaur Phillora
Almost three months after green-flagging the setting up of the National Blockchain Technology Innovation Center in Beijing, the center plans to train almost half a million specialists in blockchain and web3 development.
Here’s what we know:
On May 10, the National Blockchain Technology Innovation Center launched in Beijing is set to develop blockchain implementation in China. It’ll collaborate with local universities, think tanks, and blockchain businesses and train over 500,000 DLT specialists. China continues to explore the possibilities of the digital economy through this center’s development.
The move to train half a million specialists is a brilliant strategy considering China’s past of being self-reliant and heavily dependent on industrialism.
The Center is led by the Beijing Academy of Blockchain and Edge Computing (BABED) and plans to use the ChainMaker blockchain, developed by the Academy, as the blueprint for its developments.
A group of 50 business corporations, mostly state-owned, including China Construction Bank and China Unicom, already support ChainMaker. Local media reports that the Center will accelerate the construction of “ultra-large-scale” blockchain computing power clusters.
China has also launched an Institute of Web3 in Hong Kong, which will focus on improving the digitalization of nationwide industries. Apart from launching the Institute, the Chinese Government has also launched the 2.0 digital version of its data directory, which will also be based on ChainMaker.
Additionally, Chinese companies, now a part of BABEC, are directing their efforts in understanding the utility of Artificial Intelligence (AI) in developing a cohesive network. Backed by almost 80 governmental departments, the Academy, its supporters, and the Chinese Government are exploring AI and blockchain possibilities to make China a digital economy.
China’s stance on cryptocurrency trading may be strict, but the nation remains steadfast in recognizing the potential of blockchain technology for various industries and government operations.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.