On August 23, the 2023 Hangzhou Summit showcased the city’s stride into the future with officials in High-tech Zone (Binjiang) launching an avant-garde blockchain-driven data exchange. Significantly, this platform sets its sights on reshaping enterprise IT data trading dynamics.
Chen Chun, an academician of the Chinese Academy of Engineering and the guiding force behind the National Key Laboratory of Blockchain and Data Security, emphasized the pivotal role of this exchange. He stated,
Moreover, by integrating smart contracts, this initiative paves the way for efficient data sharing, stimulating widespread participation in the data industry.
Hangzhou’s digital economy in 2022 witnessed a surge, accounting for nearly 60% of Zhejiang’s share and a whopping 27% of the city’s GDP.
Additionally, partnerships are in full swing with “China Data Valley” joining forces with entities like Zhejiang University’s Blockchain and Data Security Laboratory, Hangzhou Financial Investment Group, and China Mobile Information Technology Company. Hence, they aim to delve deep into blockchain and data security research, construct state-of-the-art data infrastructure, and pioneer data assets’ exploration.
Tao Tao, the Deputy General Manager of China Mobile Information Technology Co., Ltd., conveyed their commitment to optimizing communication technology and big data. He asserted,
Furthermore, during the summit, Zheng Di, the Deputy Secretary of the Party Committee and the Director of the Management Committee, introduced innovative classifications for digital businesses.
This stratification, based on different developmental stages, includes “cornerstone digital business,” “spark data business,” and “Xinghai digital business,” with distinct identification and evaluation metrics for each.