The new blockchain center aims to train half a million DLT experts.
In Beijing, the long-anticipated National Blockchain Technology Innovation Center finally sprung into action on May 10th.
The center, made public in February, is determined to foster the growth of blockchain technology across China. It aims to work closely with local universities, think tanks, and blockchain companies.
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The institution will allegedly train over 500,000 experts in distributed ledger technology (DLT).
According to a local news report, the center will work on accelerating the development of "ultra-large-scale" blockchain computing power clusters.
The center's operations will be led by the Beijing Academy of Blockchain and Edge Computing. The academy is also the brains behind the ChainMaker blockchain, a homegrown blueprint for the center’s initiatives.
It is worth noting that, ChainMaker is already backed by approximately 50 business corporations, including major state-owned entities such as China Construction Bank and China Unicom.
Zheng Zhiming, a School of Mathematics and Systems Science at Beihang University professor, shed light on the center's mission. Zhiming emphasized that the center will focus on integrating various isolated blockchain applications, or "blockchain islands," within the country into one seamless network.
When talking about the matter, Zheng Zhiming noted:
Connecting blockchain application platforms and aggregating blockchain application ecology will significantly enhance blockchain innovation capabilities and core competitiveness.
Despite its hardline stance on cryptocurrencies, the Chinese government remains committed to exploring the potential of the digital economy. At the end of 2022, the news broke that China is looking to launch its first state-based and regulated non-fungible token (NFT) marketplace, dubbed China Digital Asset Trading Platform.
China is also making steady progress with its central bank digital currency project. In fact, just last month, the country declared its intention to broaden the digital yuan's usage to its "Belt and Road" initiative and cross-border trades.
