Beijing is now China’s leading blockchain center.
The capital took the top spot in the 2020 Chinese Blockchain Innovation Rankings ahead of blockchain hub Shenzhen, reports Cointelegraph, citing Finance China.
The rankings were unveiled at the China International Fair for Trade in Services Summit in Beijing. The capital received a score of 99.82 while Shenzhen – a city with more than 5,000 blockchain firms – lagged behind with a score of 91.2.
Shanghai, China’s largest city, received a score of 88, putting it in third place.
Summit host Beijing Fair heaped praise on both Beijing and Shanghai for using their “advantages in research and development (R&D) activities, industrial development and public enthusiasm” to achieve a strong public awareness of blockchain.
In July, the municipal government of Beijing unveiled a 20-point plan to accelerate the development and deployment of distributed ledger technologies (DLT) and turn the city into both a national and global hub for blockchain tech.
The Beijing Blockchain Innovation Development Action Plan 2020-2022 outlines the city’s plan to strengthen its status a global leader in both private blockchain innovation and public DLT deployment by the end of the next year.
Finance China highlighted the fact that Shenzhen has also been a pioneer in blockchain adoption among Chinese businesses and has helped put blockchain applications in the financial sector “on the right track.”