In response to Shanghai's opinion on smart city construction and support of blockchain data tracing, Huachuang Securities pointed out that as an emerging technology, blockchain has great potential in many areas of new smart cities. In terms of infrastructure, the use of blockchain technology can explore the realization of efficient exchange of data information between information infrastructure equipment, and enhance the information infrastructure collaboration capabilities. In terms of data resources, with the characteristics of the blockchain's own data that cannot be tampered with and traceable, it is expected to break the original data circulation and sharing barriers and provide high-quality data sharing guarantee. With the support of the government and the efforts of enterprises, China's smart city construction has made gradual progress. On February 10th, Shanghai issued "Several Opinions on Further Accelerating the Construction of Smart Cities", which supports the traceability of blockchain data.