Shanghai Announces Plan To Promote Urban Blockchain Digital Infrastructure System by 2025

The Chinese city of Shanghai issued an implementation to promote urban blockchain digital infrastructure system engineering in a period starting from 2023 to 2025.

According to the announcement, the plan had been outlined as a part of the strategic goal of Shanghai’s urban digital transformation and utilizing the use of the application of blockchain in the fields of real economy, public service, and urban governance.

Once the urban blockchain digital infrastructure system is fully established, it will be able to facilitate and enhance municipal affairs, public services, and applications across various industries in the region.

As per the announcement, this system will also aid in the coordination of blockchain network resources in the Yangtze River Delta area of China, while also creating an international blockchain exchange hub.

In June, China’s largest city and financial capital announced an ambitious plan to gain revenues from developing metaverse projects for cultural and tourism purposes.

Shanghai’s plan aims to generate $6.5 billion (50 billion yuan) annually from culture and tourism metaverse projects by 2025 in light of its keenness to attract domestic and international visitors to enjoy its rich cultural legacy in the digital world.

These ventures will be based on virtual performances, digital artwork, and smart tourism by the end of 2025. According to the plan, the city’s real-world attractions will be represented in the metaverse where the tourists can enjoy using their avatars to interact with these sites.

In addition, the city’s museums, art galleries, and commercial blocks will be supported to deploy metaverse-related technologies such as XR, autostereoscopy, holographic projection, and smart sensing equipment in addition to blockchain, extended reality, and artificial intelligence to support metaverse entertainment businesses.