Beijing has been named as the top blockchain city in the 2020 Chinese Blockchain Innovation rankings.
The Chinese Blockchain Innovation rankings were revealed at the China International Fair for Trade in Services Summit. The rankings comprehensively evaluates the blockchain technology and development of 83 Chinese cities and special zones, except Hong Kong, Macao and Taiwan. There were four key dimensions considered, such as research and development, industrial development, public popularity, and policy based on multi-source objective data.
According to reports, China’s blockchain regions have obvious advantages in the development of leading cities, with Beijing, Shenzhen, Shanghai, Hangzhou and Guangzhou ranked in the top five.
Beijing came first with a score of 99.82 and Shenzhen came out second with a 91.2 ranking score. It’s worth noting that Shenzhen has more than 5,000 blockchain related firms, making Beijing ranking an important feat.
Following Shenzhen in the ranking is China’s biggest city and one of East Asia’s largest business capital—Shanghai—with a ranking score of 88.
Beijing Fair, the host of the China International Fair for Trade in Services Summit, acknowledged Beijing and Shanghai for making use of their “advantages in research and development (R&D) activities, industrial development and public enthusiasm” to promote and create stronger blockchain awareness to the general public.
In July 2020, the municipal government of Beijing revealed a 20-point plan to improve blockchain. This plan was aimed at increasing the rate at which distributed ledger technologies (DLT) are deployed and developed. This move made the city become more of a blockchain hub, both nationally and globally.
The Beijing Blockchain Innovation Development Action Plan 2020-2022 lists out the plans from the blockchain city to promote its global leading status. By the end of 2021, Beijing plans to be in the forefront of public DLT deployment and blockchain innovation.