Shanghai included blockchain, NFTs and Web3 in its 5-year plan

Shanghai 5 Year Plan

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Categories: Cryptocurrency

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Shanghai included blockchain, NFTs and Web3 in its 5-year plan

Shanghai, China's largest city, officially seeks to foster the development of innovations such as blockchain, non-fungible tokens (NFTs), metaverse and Web3 during its next five-year plan. On July 13, the city government of Shanghai published the draft "14th Five-Year Plan for the Development of Shanghai's Digital Economy".

One document stipulates the mission of "promoting the deeper integration of digital technology and the real economy" as "scientists recognizing technological potential" and "entrepreneurs exploring market demand". The plan suggests supporting enterprises that plan to build an NFT trading platform and "research and promote the digitization of NFTs and other assets."

With a voiced commitment to promoting the development and application of “Blockchain+” technology and building a blockchain development ecosystem with strong innovation capabilities and independent control, a separate section is dedicated to blockchain. There is also room for Metaverse ambitions, as the municipal government plans to accelerate research and deployment of the platform.

Shanghai Digital Economy, Blockchain Technology, NFTs, Metaverse ,Web3 , Cryptocurrency

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