China has strengthened its resolve to become a world leader in blockchain technology by launching a national institute to train experts.
Dubbed the National Blockchain Technology Innovation Center, the institute will operate out of the capital city of Beijing in collaboration with private enterprises. Local news outlets confirm that the blockchain hub will forge partnerships with Chinese universities to create learning modules for interested applicants.
Dong Jin, director of the new National Blockchain Technology Innovation Center, remarked that the institute would equip up to 500,000 specialists in DLT to improve China’s tech space. Jin added that the rapid development of DLT in the country has fuelled a fragmentation that has the potential to stifle innovation in the space.
“Building a national blockchain technology innovation center, carrying out key technology research, industrial applications and high-level national blockchain main chain construction, connecting blockchain application platforms, and aggregating blockchain application ecology will significantly enhance blockchain innovation capabilities and core competitiveness,” said Zheng Zhiming, professor at Beihang University.
Apart from offering blockchain courses, the operational side of the institute will involve the creation of an “ultra-large-scale DLT computing power cluster” to unify nodes from provincial and municipal endeavors. These power clusters have been described as having the potential to improve DLT application in finance, logistics, energy, production, and cross-border trade.
Since China banned digital currency in 2021, the country has experienced a brain drain of talented blockchain developers to other friendlier jurisdictions. The implication of the mass exodus of developers saw China fall down the pecking order in the grand scheme.
“In terms of talent training, the center will train more than 500,000 high-quality talents in the blockchain field for my country through cooperation with top universities, research institutes, and industry leaders to adapt to the rapid development needs of new forms of digital economy such as Web3.0,” Jin said.
National approaches to blockchain
Several regulatory bodies are wading into their local blockchain space to push for a unified approach in their development amid rapid adoption rates. Nigeria became the latest country to join the blockchain bandwagon following the unveiling of a strategy document giving the National Information Technology Development Agency (NITDA) the powers to steer the industry.
India, South Korea, and the Philippines are making efforts to establish a national blockchain outlook with significant strides recorded in the metaverse. India’s ambition to boost blockchain adoption by nearly 50% has seen it launch several educational initiatives to create a wider talent pool for Web3 firms.
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