The Chinese government aims to train at least 500,000 new web3 talents via its newly launched national blockchain research center. The government is also looking to develop a nationwide blockchain network connecting existing ones in the region.
While bitcoin (BTC) and other cryptocurrencies remain banned in mainland China, the government is not oblivious to the potential of the underlying distributed ledger technology (DLT) powering these digital assets.
In the latest development, authorities in China have revealed plans to train at least 500,000 blockchain professionals through the country’s recently launched national blockchain center in Fuzhou City, Beijing.
According to sources, the move is also aimed at attracting blockchain-focused enterprises to the region by providing rent subsidies of up to 10,000 yuan (about $1,438) to these startups.
A national blockchain platform is in the works
Through the project, the government will also offer cash rewards of up to 6% of the operating income of Fuzhou-based web3 businesses whose active income exceeds five to 25 million yuan for the first time.
Moreover, the government will support the development of blockchain applications and pilot projects in the region. The government plans to launch a national-level blockchain network connecting all other chains within the nation through the national blockchain center.