SND strives to develop blockchain industry

Suzhou New District holds a summit to boost the development on blockchain industry at Suzhou Shishan International Convention Center on June 22. [Photo/WeChat account: snd-szgxqfb]

Suzhou New District held a summit regarding the development of the blockchain industry on June 22.

During the summit, it set a goal of developing a digital economy industry that would be valued at more than 60 billion yuan ($9.26 billion) by 2022.

The Wanxiang Blockchain Suzhou Research Institute was also launched during the event. The institute is aimed at building an industry-oriented blockchain application technology system by focusing on its underlying technology and application, as well as a controllable technological framework.

The research institute will build national-level and provincial-level blockchain incubators through technology R&D, ecological aggregation, and cooperation. It will also provide blockchain training courses to groups and individuals like start-ups and college graduates so as to boost the sustainable development of the industry.

In an attempt to attract companies from around the world, SND showcased 10 blockchain applications related to fields like finance, public services, risk prevention and control, and insurance at the summit.

In recent years, SND has been enhancing its digital economy, especially the development of the blockchain industry. It has approved over 400 national, provincial, and municipal-level projects related to big data, industrial internet, as well as software and information.

SND is home to companies and incubators in the digital economy industry, including the Cyphy Industry Internet Institute and Taihu Cloud Park.