Photo: iStock
Photo: iStock

The municipal government of Hangzhou city in Zhejiang province, where Jack Ma founded the Internet giant Alibaba, has become the first city in China to include the technology of blockchain into its government work report, Zhejiang Daily reported.

The government has attached great importance to blockchain, putting it third behind artificial intelligence and virtual reality, and before the technology of quantum and commercial aerospace.

Wang Lei, CEO of the country’s first blockchain consulting firm, 8BTC, thinks the move is not surprising, because Hangzhou has already shown its ambition to act first in the world of blockchain.

Earlier in April 2017, the Hangzhou government hosted the Global Blockchain Financial Summit, attracting 2,000 blockchain fans from around the world, including Jeffrey Wilcke, founder of Ethereum, one of the pioneer platforms in blockchain.

Meanwhile, the city has also set up the country’s first blockchain industrial park, as well as a blockchain technology and application association.