Beijing is China’s Top Blockchain City for 2020

The capital of China, Beijing, has been hailed as the country’s leading blockchain city in the recently-concluded 2020 Chinese Blockchain Innovation Rankings.

Leading the pack ahead of Shenzen, China has recorded a score of 99.82 while the former, despite having 5,000 blockchain firms — lagged with a score of 91.2.

This result came out as an adjacent celebration and the special session at the China International Fair for Trade in Services Summit.

Meanwhile, not far behind the rankings is the second-largest city, Shanghai has a score of 88. The latter has been one of the busiest offices and headquarters in Southeast Asia.

Garnering the accolades at the Beijing Fair, the host of the summit, raised good recommendation for both Beijing and Shanghai as two critical municipalities that are backed up by the their “advantages in research and development (R&D) activities, industrial development and public enthusiasm,” which makes blockchain a trending and widely known topic.

Two months ago, Beijing’s municipal government released a 20-point plan to accelerate a sector called the development and deployment of distributed ledger technologies (DLT) and turn Beijing into a global and national hub for blockchain tech.

Moreover, this gives more construction to the skeleton through The Beijing Blockchain Innovation Development Action Plan 2020–2022.

This is also the city’s intent to solidify itself as a global leader in private blockchain innovation and public DLT deployment by the end of the next year.

Besides, Finance China highlighted the fact that it also become one fo the forefathers of the blockchain adoption among businesses in the country and has boosted blockchain applications in the financial sector “on the right track.”

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