China Goes Full Power Into Blockchain With Plans for Thousands of Crypto Engineers

Updated: 17 July 2023

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The Beijing government aims to train 10,000 engineering talents annually in emerging technologies such as blockchain, AI, and big data, according to a document from the Beijing Municipal Human Resources and Social Security Bureau.

The plan includes revising the talent evaluation system and establishing a research center for Web 3.0 initiatives like blockchain and metaverse development.

China Aims to Cultivate Digital Technology Talents

Beijing, the capital city of China, has announced a bold initiative to train 10,000 engineers annually in digital technologies. The focus will be on blockchain technology, artificial intelligence (AI), and big data.

Just in: Beijing to train 10,000 engineers in digital technologies, including blockchain, each year

— 0x4dY (@0x4dY) July 17, 2023

On July 7, the Beijing Municipal Human Resources and Social Security Bureau submitted a government document outlining their decision.

This bureau oversees workforce development within the city and intends to foster digital technology talents.

In addition to implementing a training quota, the bureau intends to modify its talent evaluation system.

In February 2023, the Ministry of Science and Technology in China approved the establishment of the National Blockchain Technology Innovation Center in Beijing.

China to set up national blockchain technology research center in Beijing

China has given the go-ahead to set up the National Blockchain Technology Innovation Centre in Beijing to run blockchain research and development, according to local media. pic.twitter.com/NSXdEe44j4

— Crypto Verse News (@VerseCo_News) February 10, 2023

Its primary focus was on conducting research and development related to blockchain.

The Beijing Academy of Blockchain and Edge Computing (BABEC), a research institution supported by the Beijing government, will lead this center.

Despite the prohibition on cryptocurrencies, China recognizes the significance of blockchain as an integral component of its digital infrastructure.

This initiative aligns with Beijing’s growing focus on Web 3.0 as it looks to stay in the loop with technological advancements worldwide.

The nascent space represents the next phase of the internet built upon technologies such as blockchain, the metaverse, and non-fungible tokens (NFTs).

By undertaking this ambitious endeavor, Beijing aims to position itself as a global leader in technological advancement and create an ecosystem that nurtures cutting-edge solutions.

Beijing Focuses on Web3

During a Web3 summit on July 6, the municipal government of Beijing revealed plans to establish the Beijing Metaverse Innovation Center.

This government-backed organization aims to facilitate metaverse research, development, and adoption within the city.

Prior to this, Beijing’s local government published a white paper on May 27, 2023, outlining its vision and the challenges involved in developing the city’s Web 3.0 industry.

Beijing releases Web3 white paper, highlights challenges in talent, rules#Web3Wiser pic.twitter.com/arygOGGgPE

— Wise (@web3wiser) May 29, 2023

The whitepaper, released at the Zhongguancun Forum, highlighted various obstacles to developing Web3 industries.

The challenges include sourcing suitable talent, ensuring the integrity of blockchains, and establishing relevant laws and regulations.

Regarding the development, Changpeng Zhao, the founder of Binance, expressed his opinion through a tweet on May 27, 2023.

Interesting timing on this Web 3.0 white paper from the Beijing government tech committee with the June 1st anticipation in Hong Kong. pic.twitter.com/0Ts1UB0jnL

— CZ 🔶 Binance (@cz_binance) May 27, 2023

He observed the “interesting timing” of the whitepaper’s release alongside the imminent implementation of a new regulatory framework for cryptocurrency trading platforms in Hong Kong on June 1.

As the world embraces the digital age, initiatives like these demonstrate Beijing’s determination to remain competitive with the rest of the world in tech.