City

Current Status

Guangzhou, China

A number of policies have been introduced to encourage the development and innovation of blockchain technology. 2020 Guangzhou wrote about blockchain in its government work report, mentioning that it should accelerate the development process of blockchain technology and industrial innovation, benefit blockchain technology to the people, actively promote and apply the new technology to livelihood, finance and other industries and fields, and build a blockchain industry cluster. Guangzhou has also set up a corresponding industrial fund covering various aspects to provide financial support for blockchain projects, with a wide and specific policy support. Guangzhou has also introduced a special action plan for the development of blockchain industry, and has laid out the development of blockchain on an overall level from top to bottom.

Hamburg, Germany

The City of Hamburg is paying particular attention to the technology and application of blockchain and wants to develop Hamburg into an internationally important location for economically significant blockchain initiatives. The Office of Information Technology and Digitalization (ITD) at Hamburg City Hall has established a special department for blockchain to improve the authorities’ responsiveness and technical competence in the development of blockchain.

Seoul, Korea

Blockchain support is strong at the government level. 2018 saw the Seoul Metropolitan Government release a blockchain master plan, a project worth as much as $109 million. in January 2019, the Seoul Blockchain Governance Panel was established. 100 panel members from a wide range of industries can come together to discuss the potential of blockchain applications in the city. in February 2019, the Seoul Metropolitan Government created the Seoul Innovation Growth Fund, a fund program focused on the development of blockchain technology. The fund announced plans to invest $1 billion in blockchain technology R&D and applications and fintech startups for three years. The Seoul government also provided 180.6 billion won in funding to the Innovation Academy to help train innovative blockchain-related talent.

New York, USA

In September 2015 the U.S. Commodity Futures Trading Commission (CFTC) included digital currencies such as bitcoin and some other digital currencies based on blockchain technology within the definition of commodities for the first time in a document (Mo, 2017) . The U.S. has used the act of legislation to exert a degree of control over some applications of blockchain that may pose some risk to the country.

Melbourne, Australia

In February 2020, Australia released the National Blockchain Roadmap: Towards a Blockchain Enabled Future. The Roadmap aims to help Australia unlock its full potential in the development and application of blockchain technology and make Australia a leader in the field. The introduction of blockchain technology in agriculture, education and finance will significantly improve the efficiency of socio-economic operations and unlock new growth poles for the country’s economy. The Australian government has also proposed a 12-point action plan.