Chinese Ministry Releases Plans to Integrate Blockchain in Development Process

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • Plans to overcome these shortcomings were issued on September 21 by the two major Chinese Ministries
  • The Ministry of Industry and Information Technology issued a 2-year plan for the Action plan for Digital Transformation of Intelligence Manufacturing in the building materials industry
  • Office of the State issued Opinions on the Accelerated Development of New Consumption with New Business Models of 21st September 2020

Covid-19 has drastically forced the offline consumption of numerous tasks to adopt online mode. But the adoption doesn’t imply the perfection and various shortcomings happen to exist in these technologies. The need of the hour includes insufficient infrastructure, lag in regulatory methods and weak servicing capabilities. Plans to overcome these shortcomings were issued on September 21 by the two major Chinese Ministries. 

Industry and Information Ministry Plan

The Ministry of Industry and Information Technology issued a 2-year plan for the Action plan for Digital Transformation of Intelligence Manufacturing in the building materials industry. The new plan will be focused on the cryptographic application support, promotion of intelligence promotion and the value chain integration in the building materials. The shift of China towards the high-end development model had been possible due to the intelligence manufacturing and use of smart manufacturing. 

Main Goals of the Plan

As per Xi Jinping’s government, the building industry will enhance by a significant margin by the year 2023. The plan talks about Innovation in the blockchain technologies in the smart building materials industry. Development of 50 key common technologies for intelligent manufacturing, 100 building materials app development. China plans to achieve this by the use of smart manufacturing companies, digital mines and smart factories. 

Construction of the hierarchical system for the protection of network security will also be focused through this 2-year plan. Ministry also plans to implement blockchain technology in the building material companies, in information traceability, quality management. Other functions of upstream and downstream industrial chains for ensuring data security will also be integrated with the blockchain technology. 

Office of the State Council Plan

As per the issued plan, Opinions on the Accelerated Development of New Consumption with New Business Models of 21st September 2020. The plan stated the urgency to focus vigorously on integration and promotion of innovations in the field of application intelligence. For effective risk prevention, technologies like blockchain, artificial intelligence, big data and cloud computing shall be promoted. Use of blockchain in the traceability of products cross border remittances, the supply chain should be developed extensively in the coming years. 

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