18h05 ▪ 3 min read ▪ by Fenelon L.
Summarize this article with:
China sets 2030 as the deadline for its national blockchain network. Its 15th informatization plan specifies priority regions and targeted uses, from finance to logistics. However, Beijing does not question its ban on crypto-related activities.
In Brief
- The plan released on October 23 by the Central Commission for Cyberspace Affairs calls for a national blockchain network to be “essentially complete” by 2030.
- It outlines a central backbone network, regional hubs, and targeted applications in the Yangtze River Delta, the Chengdu-Chongqing region, the Beijing-Tianjin-Hebei region, and the Greater Bay Area.
- The document makes no mention of cryptocurrencies, and Beijing continues to enforce its ban on crypto-related activities.
A network registered in Beijing’s schedule
The October 9 document had already laid the foundation for the project. The new plan goes further by setting a precise deadline. The Central Commission for Cyberspace Affairs lists the blockchain network among the digital infrastructures that China wants to develop in the coming years.
The document clearly states the objective: “the national blockchain network will be essentially completed” by 2030. In the same passage, Beijing mentions the commercial launch of 6G and the strengthening of computing infrastructures. Blockchain is thus part of a broader digital modernization strategy.
Specifically, the plan provides for a central backbone network, interconnected regional hubs, and decentralized digital identity services. It also bets on the digitization of maritime transport and freight.
Four economic hubs to deploy the blockchain
The official plan details the priorities of each region. The Yangtze Delta must notably develop blockchain applications in commerce and finance. Meanwhile, the Chengdu-Chongqing region aims for large-scale deployment in commercial exchanges, manufacturing industry, and agriculture.
Two other hubs complete the setup. Beijing-Tianjin-Hebei should use this technology to improve intelligent logistics around its two airport hubs. As for the Guangdong-Hong Kong-Macao Greater Bay Area, it must accelerate innovative applications and facilitate cross-border data exchanges.
At the same time, Beijing wants to strengthen technical standards and facilitate data flow between systems. These two tasks will be essential to allow the various infrastructures to communicate effectively.
State blockchain, no opening announced to cryptos
The plan does not mention any cryptocurrency. Since 2021, China has banned transactions and financial services related to cryptos. The new timetable does not challenge this policy.
The distinction is important: Beijing is developing regulated blockchain infrastructures, without opening the door to public crypto networks.
The plan’s quantitative objectives confirm this direction. By 2030, China wants to increase Internet penetration from 80.1% to 85%, raise the number of 5G stations per 10,000 inhabitants from 34 to 50, and increase IPv6 traffic share from 33.79% to 42%.
This strategy extends a direction engaged since 2019: promoting blockchain while limiting its use in crypto-related finance. Beijing continues notably to tighten the rules governing this sector.
By 2030, the main challenge will therefore be to connect infrastructures, businesses, and administrations. Another question remains open: under what conditions will foreign actors be able to access this Blockchain network?
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
DISCLAIMER
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