• 28 May, 2024
News

China Pioneers Blockchain Expansion for Belt and Road Initiative: Report

In a significant stride towards technological advancement, China embarks on a pioneering venture to expand its digital horizons by unveiling a groundbreaking blockchain project. 

Renowned crypto journalist Colin Wu unveiled in a recent X post that the “Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative” has been officially launched at an event organized by the Shanghai Shutu Blockchain Research Institute on March 30. This marks a significant development in blockchain technology’s application across the Belt and Road initiative.

According to a recent report, this monumental project, spearheaded by the Shanghai Shutu Blockchain Research Institute, boasts an impressive collaboration among several prestigious entities. Partners include the China Academy of Information and Communications Technology, Shanghai Jiao Tong University, Fudan University, Shanghai Maritime University, and more, marking a notable amalgamation of academic and technological process.

The unveiling ceremony featured illustrious expert leaders from the Industrial Development Promotion Center of the Ministry of Industry and Information Technology and the Shanghai Science and Technology Commission. Also in attendance were members of the project consulting expert group, the project leading unit, and various project participants, all coming together to witness this momentous occasion.

This ambitious endeavor aims to cater to the unique characteristics and demands of the “Belt and Road” transnational cooperation scenario. The project’s vision is to develop an avant-garde blockchain platform capable of supporting multi-country deployment and facilitating multi-subject collaborative supervision. This innovative platform is set to be the foundation for a series of demonstration applications that span across economic, trade, and cultural fields, promoting cross-border cooperation.

The blockchain project “Super-large-scale Blockchain Basic Platform for the ‘Belt and Road” initiative represents a significant leap forward in China’s commitment to integrating cutting-edge technology with its ambitious Belt and Road Initiative. It underscores the nation’s dedication to fostering international cooperation and setting new benchmarks in the realm of digital infrastructure development.

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