China's Hunan Province plans to become blockchain powerhouse

Source:Global Times Published: 2020/4/27 22:57:15

People walk by a sign of Blockchain Summit during the Mobile World Congress Shanghai 2019 in June. Photo: IC

Central China's Hunan Province is striving to become a center of China's blockchain industry by 2022, with the province rolling out China's first provincial-level blockchain outline on Monday.

It plans to accelerate the development of the blockchain industry by constructing 5 blockchain industrial parks, with 30,000 enterprises connected to blockchain, yielding revenue of 3 billion yuan ($423 million) in the next three years.

To achieve this goal the province will expand the application of blockchain in a wide range of fields and combine the technology with industry, finance, logistics, public services and culture sectors.

According to the plan, the technology will be adapted in scenarios including social governance, intellectual property rights, supply chain, industrial inspection and certification, digital economy, loans for small and medium-sized enterprises, bank risk control, education, employment, pensions, poverty alleviation and medical health. 

To encourage more enterprises to get connected with blockchain, the province will build more incubation hubs and explore new models of deep integration of blockchain technology and the real economy.


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