China's government plans to integrate blockchain technology as a pillar of its national data infrastructure, driving innovation in key sectors such as finance, logistics and healthcare. Learn the details of its pioneering and revolutionary strategy.
In a move that reinforces its position as a global technology leader, China has announced an ambitious plan to integrate blockchain technology into its national data infrastructure, with the aim of completing its implementation by 2029.
This project, submitted by the National Development and Reform Commission (NDRC), seeks to transform data management in the country, improving transparency, security and efficiency in key sectors such as finance, logistics and health, through the blockchain.
The initiative, called "Guidelines for building national data infrastructures», places to Blockchain at the heart of China's digital transformation strategyAlthough the country has maintained a restrictive stance towards cryptocurrencies, banning their trading and mining since 2021, it has proactively adopted permissioned blockchain applications, which do not rely on tokens and are centrally controlled by the government.
The plan: Blockchain as a pillar of the digital economy
El Valid identity document The policy document, published on January 8, details a phased approach to implementing blockchain-based data infrastructure. Between 2024 and 2026, phased implementations will take place. Pilot projects in key regions, testing blockchain frameworks and decentralized applications in various sectors, including finance and green energy. By 2028, these projects are expected to evolve into integrated national networks that support secure, large-scale data sharing.
One of the most notable elements of the plan is the Creating “Trusted Data Spaces”, designed to allow the secure exchange of information between various parties, ensuring privacy and data ownership.
These spaces will address governance challenges by ensuring traceability and data integrity in sectors such as e-commerce, logistics and financial services. In addition, blockchain-based data marketplaces will facilitate the tokenization and secure trading of data assets, opening up new revenue streams and driving large-scale sharing.
The situation of Blockchain and cryptocurrencies in China
Since 2021, the Chinese government has banned cryptocurrency trading and mining, citing concerns about financial stability and the energy consumption associated with these activities. However, this ban has not slowed the country’s interest in blockchain applications. Instead, China has been exploring how the technology can be used in a variety of sectors, including data management and improving public services.
A notable aspect of these efforts is the development of its own blockchain infrastructure, known as Blockchain Services Network (BSN), which aims to provide a secure and accessible environment for companies and government entities to implement solutions based on this technology.
Key objectives: Transparency, security and efficiency
The Chinese government has identified several key goals for this initiative to integrate blockchain technology into its national data infrastructure. First, it seeks to create a data management system that is secure and accessible to citizens and businesses.
By using blockchain, China ensures that the data is immutable and verifiable, which is essential to establish trust between users. This greater transparency It could also facilitate the fight against corruption and improve the efficiency of public services.
Secondly, the plan aims to encourage innovation in various sectors. For example, in the financial sector, blockchain could streamline processes such as identity verification and transaction management, reducing costs and time. In logistics, it would allow for more accurate monitoring of supply chains, while in the health sector, it could improve the management of medical records and interoperability between institutions.
China boosts digital economy
The national data infrastructure that China plans to establish is a comprehensive system that will support the collection, accumulation, transmission, processing, circulation and security of data. This perspective aligns with global trends toward digitalization and responds to the country's internal needs to optimize its digital economy.
As China moves toward a more digitalized economy, strategic use of blockchain can help mitigate risks associated with improper or fraudulent handling of information. Furthermore, by integrating blockchain into its national infrastructure, China seeks to improve its internal processes and position itself as a leader in technological innovation globally. The potential applications are vast and range from efficient supply management to advanced systems for public health.
The economic and social impact of digital infrastructure in China
The development of this blockchain infrastructure will have major technological implications and a significant impact on the Chinese economy. It is estimated that by 2029, the national data market will reach a considerable value, boosting key sectors such as e-commerce, financial services and public administration.
This digital transformation will not only streamline public services and promote greater government transparency, but could also increase public trust in state institutions.
China’s commitment to blockchain has both domestic and global implications. By leading the development of blockchain-based infrastructure, China could influence international data management standards, incentivizing other countries to adopt similar approaches and accelerating global blockchain adoption.
Furthermore, this initiative reinforces China's position as a technological power. By investing in digital infrastructure and fostering innovation, the country could attract more foreign investment and strengthen its competitiveness in the global market, thus redefining international trade relations by collaborating with partners offering advanced technological solutions.
Main image from Pexels
