Shanghai Unveils Strategy for Blockchain Industry Development

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The local government of Shanghai has released a set of measures to accelerate the progress of blockchain technology in the city by 2025.

These measures will focus on the improvement of security, cryptographic algorithms, specialized processors for distributed ledger technology, smart contracts, cross-chain connectivity, data storage, privacy solutions, and regulation.

These advancements will lay the foundation for a blockchain core service platform and the growth of important industries such as municipal governance, international trade, supply chains, finance, metaverses, and data circulation.

The implementation of Zero Knowledge Proof (ZKP) solutions will enhance security protocols and provide twice the efficiency of current measures like Plonk.

The authorities aim to attract skilled individuals from the blockchain industry, both locally and internationally, by supporting universities, research institutions, and companies in fostering young talent and creating platforms for cross-disciplinary and cross-industry collaboration.

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