China Plans to Establish Blockchain-Based National Data Infrastructure by 2029

Chinese authorities have announced plans to establish a blockchain-based national data infrastructure by 2029.

According to a report by The Block on the 8th (local time), China's National Development and Reform Commission stated in a policy document, "We will build extensive infrastructure based on blockchain technology for the government's integrated national data market by 2029."

The policy document indicates that the data infrastructure will be powered by blockchain-based smart contracts, aiming to establish a standardized structure for data asset and transaction authentication through traceability and reliability.