- The initiative focuses on building national blockchain networks.
- State enterprises lead the project.
- Market impact remains minimal as the plan is in early stages.
China plans to build a national public blockchain by 2029, investing $54.5 billion. Central state-owned enterprises lead this initiative, guided by the National Development and Reform Commission and National Data Administration, focusing on infrastructure rather than global cryptocurrencies.
China has embarked on a $54.5 billion blockchain initiative, spearheaded by central state-owned enterprises, to establish a national public blockchain infrastructure by 2029.
This project reflects China’s strategic ambition to create influential blockchain networks, driven by substantial government investment and managed by state agencies, with significant long-term global implications.
National Development and Reform Commission and National Data Administration
China is launching a comprehensive plan under the National Development and Reform Commission (NDRC) and National Data Administration (NDA) to enhance its blockchain infrastructure. The $54.5 billion investment aims to establish a national blockchain network by 2029.
Involvement of Central State-Owned Enterprises
Central state-owned enterprises, including large telecom and infrastructure entities, are taking the lead. They are expected to pilot and scale blockchain infrastructure, underlining the project’s national importance.
Global and Domestic Impact
The effects on global cryptocurrencies like ETH and BTC are negligible at present, as emphasis lies on data governance. Infrastructure development focuses on domestic and regulated environments rather than global public cryptocurrencies.
Potential Implications
The roadmap’s implications span various sectors. Political and economic facets underscore the Chinese government’s dedication to technological autonomy and national control, potentially reshaping global blockchain dynamics.
Zhulin Shen, Deputy Director, National Data Administration, stated, “The project is expected to attract approximately 400 billion yuan ($54.5 billion) in annual investments over the next five years.”
Historically, China’s strategies like “Made in China 2025” have mirrored this blueprint, prioritizing indigenous innovation. Future outcomes may involve enhanced regulatory frameworks, technological advances, and economic growth within the domestic market.
About the author
Michael Saylor Predicts Bitcoin’s End to Crypto Winters
Michael Saylor, Executive Chairman of MicroStrategy, declared that Bitcoin's 'crypto winter' is over during a June 2025 interview in the United States.
Ethena, Immutable, Movement Prepare for Major Token Unlock
Next week's token unlock for Ethena (ENA), Immutable (IMX), and Movement (MOVE) could impact market dynamics significantly.
Ethereum Fails to Maintain $3,500 Amid Market Downturn
Ethereum's price dips below $3,500 impacted by market sell-offs and whale movements, notably involving Arthur Hayes. The crypto sector faces ongoing uncertainty, influencing trading strategies and future price trends.
Michael Saylor Declares Bitcoin a Dual Asset
Michael Saylor, Strategy's Executive Chairman, describes Bitcoin as a short-term trading and long-term treasury asset.
UK FCA Maintains Ban on Crypto Derivative Trading
The UK Financial Conduct Authority confirms crypto derivatives trading ban for retail clients remains in effect amid regulatory changes allowing cETNs access in 2025.
China Initiates $54.5 Billion Blockchain Project
China's strategic blockchain initiative, led by central state-owned enterprises, aims to establish a national public blockchain infrastructure by 2029, with significant long-term global implications.
Related
Michael Saylor Predicts Bitcoin’s End to Crypto Winters
Michael Saylor, Executive Chairman of MicroStrategy, declared that Bitcoin's 'crypto winter' is over during a June 2025 interview in the United States.
Ethena, Immutable, Movement Prepare for Major Token Unlock
Next week's token unlock for Ethena (ENA), Immutable (IMX), and Movement (MOVE) could impact market dynamics significantly.
Ethereum Fails to Maintain $3,500 Amid Market Downturn
Ethereum's price dips below $3,500 impacted by market sell-offs and whale movements, notably involving Arthur Hayes. The crypto sector faces ongoing uncertainty, influencing trading strategies and future price trends.
Michael Saylor Declares Bitcoin a Dual Asset
Michael Saylor, Strategy's Executive Chairman, describes Bitcoin as a short-term trading and long-term treasury asset.
UK FCA Maintains Ban on Crypto Derivative Trading
The UK Financial Conduct Authority confirms crypto derivatives trading ban for retail clients remains in effect amid regulatory changes allowing cETNs access in 2025.
Metaplanet Aims to Acquire 210,000 BTC by 2027
Metaplanet Ltd., led by CEO Simon Gerovich, plans to acquire 210,000 Bitcoin by 2027, potentially reshaping institutional cryptocurrency investments.
Be the first to leave a comment