In an ambitious move that further cements China’s position on the global stage, the bustling city of Shanghai has recently announced an exhaustive plan to transform its blockchain digital infrastructure between 2023 and 2025.
This initiative underscores the city’s commitment to leading in the blockchain space, enhancing the economy, public services, and urban governance.Pioneering Blockchain Infrastructure: No Room for ScammersShanghai’s audacious plan aims to leverage recent breakthroughs in core blockchain technology and create a thriving ecosystem that fuels innovation. By nurturing leading companies with a strong influence in the industry, Shanghai intends to push its blockchain technology to new frontiers.With the city’s drive to pioneer, comes an equally resolute stand against crypto scammers. As the city plans to elevate its blockchain infrastructure, it intends to establish a secure, reliable environment, where fraudsters will find no room to exploit the technology or its users.A Web Beyond Shanghai: The Yangtze River Delta ConnectionFar from being a city-centric initiative, the plan aims to coordinate blockchain network resources across the expansive Yangtze River Delta region in China.
This collaborative endeavour will not only streamline resources but also ensure a unified approach to tackling cybercrimes, thereby providing an additional layer of security against crypto scammers.China’s Blockchain Juggernaut: U.S. In the Rearview MirrorThis strategic move comes amidst escalating geopolitical tensions between China and the U.S., with technology and crypto emerging as significant flashpoints. As China forges ahead, enhancing its blockchain infrastructure and consolidating its dominance in crypto, the U.S. grapples with regulatory uncertainties and a comparatively smaller footprint in the crypto exchange market.A Strategic Power Play: More Than Just Tech InnovationChina’s vigorous push in blockchain development signifies more than a quest for technological supremacy.
It represents a well-calculated geopolitical strategy, potentially tipping the balance of power in its favor on the global stage.
Source : [Shanghai Steers China’s Blockchain Revolution: A Firm Stand Against Crypto Scammers]- Coinpedia Fintech News / August 07, 2023