China sets 2030 target for national blockchain network under 15-year plan

Key points

• The Central Cyberspace Affairs Commission's 15th National Informatization Five-Year Plan targets a completed national blockchain network by 2030.
• Blockchain is listed as a priority industry ecosystem alongside integrated circuits, display technology, AI and 6G mobile communications.
• The plan follows a 2022 rollout of 15 pilot zones and 164 entities working on blockchain projects in areas such as manufacturing, energy, tax and finance.

China has set out a roadmap for a national blockchain network by 2030 as part of its 15th National Informatization Five-Year Plan, Bitcoin.com News reports. The Central Cyberspace Affairs Commission, the party body responsible for cybersecurity and informatisation policy, has made blockchain a priority in the plan.

The plan expects the 24 October information structures to develop into a three-dimensional network system by 2030, with sixth-generation mobile communications commercialised and the national blockchain network finished. Blockchain sits in a new industry ecosystem the authorities intend to cultivate, alongside integrated circuits, display technology, artificial intelligence and 6G.

The strategy also covers legal support for the technology: national standards are to be drawn up and promoted internationally. The People's Bank of China, which opposes cryptocurrency, has nonetheless pointed to blockchain's relevance for one-stop online processing of cross-border electronic tax payment business.

If completed, the national blockchain network would make China an early adopter of a decentralised backbone for smart finance, property rights and ID registries.

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