Catenaa, Monday, January 13, 2025 – China has unveiled ambitious plans to integrate blockchain technology into its national data infrastructure, aiming to complete the project by 2029. The National Development and Reform Commission, alongside two other government bodies, released a policy document emphasizing blockchain’s role in enhancing the traceability and trustworthiness of data.
Despite its ban on cryptocurrency trading and mining, China continues to embrace blockchain technology for non-tokenized applications. The guidance outlines the use of blockchain for creating standardized data assets and transaction certificates, coupled with encryption technologies and smart contracts.
The government aims to establish a unified national data market and encourages industries and local governments to experiment with blockchain networks and privacy-protecting computing platforms. Zhulin Shen, deputy director of the National Data Administration, revealed that these initiatives could attract direct annual investments of approximately 400 billion yuan ($54.5 billion), potentially driving a total investment of 2 trillion yuan ($272.7 billion) over the next five years.
This development underscores China’s dual stance on digital assets—banning cryptocurrencies while leveraging blockchain to advance its technological and economic goals. The plan is a key element of China’s strategy to bolster its national infrastructure and economic resilience in the face of global challenges.
