- After years of avoiding blockchain technologies, the Chinese government is finally waking up to digital technology.
- It has decided to transform the Airport Economic Zone of the Daxing Airport.
- The implementation of blockchain technology in general areas like biomedical sampling, testing, and inspections will also be conducted.
After years of avoiding blockchain technologies, the Chinese government is finally waking up to digital technology. It has decided to transform the Airport Economic Zone of the Daxing Airport. By bringing in new infrastructure to promote digital cross-border trade and service clusters. Moreover, it has already contacted the Beijing Financial Innovation Research Institute. Companies like Alibaba are further contacted to work on innovations in digital trade.
Beijing’s Daxing International Airport
This particular airport has an economic zone that works with global passenger and capital flow. Logistics, and flow of information, along with high energy element resources is further included. This makes the Rinku Economicne a perfect choice for the development of new-generation information technology infrastructure. This economic zone will be able to conduct researches and explore innovations in digital trade. It also plans to create digital trade application simulations. Promoting digital trade innovation is on its list as well.
What will the Economic Zone Look like?
The Daxing Airport will house a data circulation and supervision area. This section will be working on cross-border data flow. It’ll be the key to the creation of a multinational data exchange hub in the future. The zone will also house areas for aviation logistics and cross-border e-commerce. It’ll further include financial innovation, and intellectual property rights as well. The Zone will conduct security assessments of cross-border data flow. Additionally, it will house areas for exploration of security management mechanisms. The implementation of blockchain technology in general areas like biomedical sampling, testing, and inspections will also be conducted.
An overview of the matter
The Daxing Airport Economic Zone will be the first such economic zone for the promotion of digital trade. It is a great sign for the future of blockchain technology and trade. One of the world’s largest trade hub is experimenting with digital trade, logistics, and security. The establishment of this economic zone will pave the way for more such projects in the future.