China pilots nationwide blockchain development over real-world use cases
Some of the key areas of blockchain development embrace producing, energy, government knowledge sharing and services, enforcement, taxation, criminal trials, inspection, and cross-border finance.
NEWS
The Internet Administration of China (CAC) declared the commencement of AN in-house effort to expedite blockchain development and innovation across fifteen zones and 164 entities. The initiative aims for the large-scale implementation of blockchain technology across businesses and government organizations in China.
The CAC, at the side of different government agencies, directed the regulative authorities to “promote the intensive and balanced layout of blockchain technology infrastructure within the region, type a large-scale production-level cross-chain knowledge exchange support capability, and promote the formation of a multi-party cooperative blockchain business ecology.”
The notice additionally enclosed a listing of cities, corporations and different entities — preset by the native and division recommendations — which will be directly concerned within the blockchain pilots. A snipping of CAC’s list for blockchain pilot comes. Source: CAC.
The key areas of blockchain development embrace producing, energy, government knowledge sharing and services, enforcement, taxation, criminal trials, inspection, copyright, civil affairs, human society, education, healthcare, trade finance, risk management management, equity market and cross-border finance.
The circular additionally emphasizes the necessity for regulative departments to coordinate the advancement and promotion of the pilot comes “and provide full play to the role of blockchain in promoting knowledge sharing, optimizing business processes, reducing in operation prices, rising cooperative potency, and building a sure system.”
Related: China aims to separate NFTs from crypto via new blockchain infrastructure. Despite a robust stance against crypto adoption, the Chinese government continues to indicate interest in connected ecosystems as well as blockchain and nonfungible tokens (NFT). Most recently, the Blockchain-based Service Network (BSN), a government-backed blockchain project in China, was reportedly functioning on AN infrastructure to support businesses and people in building NFT-focused platforms and apps.
As Cointelegraph reported , the project aims to support the preparation of platforms capable of mercantilism non-crypto NFTs via edict currency.
