China Launches Web3 Initiative: Comprehensive Integration of Blockchain Technology in Digital Infrastructure, AI, and Healthcare
China Launches Two-Year Action Plan for Blockchain Innovation and Application Development
The Chinese government announced a two-year “Action Plan for Blockchain Innovation and Application Development” on April 29, intending to establish blockchain as the “core technology for industry digitalization.” The plan aims not only to invest in infrastructure but also to promote blockchain in sectors such as healthcare, education, and AI. Officials emphasized that this is not merely a technical investment but a key project to drive the digital economy and urban innovation transformation.
Timeline for Blockchain Implementation in China from 2024 to 2027
According to the official announcement, the Beijing Municipal Science and Technology Commission, the Zhongguancun Management Committee, the Cyberspace Administration, the Government Affairs Data Bureau, the Economic and Information Technology Bureau, and the Business Bureau jointly launched this action plan. The overall implementation will start in 2024 and continue until 2027.
Blockchain Designated as Core Infrastructure Technology, Potential Development of Cryptocurrency Applications
The plan states that blockchain is an important foundation for the digitalization of industries, possessing the potential to “enhance data trustworthiness and optimize process efficiency.” Notably, the officials also mentioned:
“We will enhance the value transformation capability of digital assets through blockchain technology.”
This has been interpreted by some as a possible involvement in research and applications related to digital assets, such as mining or asset on-chaining.
Comprehensive Infrastructure Development: Establishing National-Level Nodes, Blockchain Chips, and Digital Identity Platforms
The announcement indicated that China will build a complete set of blockchain infrastructure:
- Establish “blockchain chips” and data privacy protection functions
- Develop national-level nodes, trusted identity platforms, and decentralized data catalogs
- Achieve the overall plan of “one chain, one network, one platform”
The system aims to achieve:
- Petabyte-level node storage capacity
- A digital identity intercommunication system with over 100 million users
- Cross-chain operations and interconnectivity between different blockchains
Diverse Industry Applications: Healthcare, Education, AI, Finance, and Transportation Included
The Beijing municipal government will introduce blockchain in several key industries, including:
- Healthcare: Emphasizing credible transmission of medical records and data
- Education: Verifiable academic credentials and credit on the blockchain
- AI Models: Supporting trustworthy traceability for large AI models
- Financial Services: Automating financial processes and digitizing contracts
- Transportation Management: Data sharing and smart city applications
The overall goal is to enhance government service efficiency and industry trustworthiness, creating “benchmark applications” for nationwide promotion.
Continuing the Direction of the Web3 White Paper to Build a Global Digital Economy Innovation Center
This action plan is a continuation of the spirit of the “Web3 Innovation and Development White Paper” released by China in 2023. At that time, China had already stated:
“Web3 is an irreversible trend in the future development of the internet.”
Since 2023, Chinese authorities have allocated at least 100 million RMB annually to support Web3 technology innovation until the end of 2024.
China’s Blockchain Roadmap Emphasizes Application Layer and Infrastructure
Unlike the development routes of Europe and the United States, which focus on “decentralization and free development of cryptocurrencies,” this plan emphasizes:
- Technological independence and security control
- Institution-driven, serving industry digitalization
- Strengthening trust mechanisms and data management within a regulatory framework
From the action plan, it is evident that Beijing has not emphasized “cryptocurrencies” themselves but focuses more on the application of blockchain underlying technologies in scenarios such as “trusted identity, data intercommunication, and process automation.”
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