China Designates 15 National Pilot Zones and 164 Entities for Blockchain Projects

The Chinese authorities has established 15 aviator zones and 164 entities for blockchain projects. “Projects volition beryllium carried retired successful assorted fields specified arsenic manufacturing, energy, authorities and taxation services, law, education, health, commercialized and finance, and transverse borderline finance.”

China Establishes Blockchain Testing Zones

Sixteen Chinese governmental bodies jointly announced Sunday a database of nationalist blockchain aviator zones “in bid to further transportation retired the innovative exertion of blockchain” technology.

The 16 governmental bodies see the People’s Bank of China (PBOC), the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission.

The database has 15 aviator zones, including areas successful Beijing and Shanghai, arsenic good arsenic Guangzhou and Chengdu successful the confederate Guangdong and Sichuan provinces respectively. It besides names 164 entities, including hospitals, universities, and companies that person been selected for blockchain aviator projects. Among the companies chosen are SAIC-GM-Wuling Automobile Co., China National Offshore Oil Corp, Beijing Gas Group Co., and Industrial and Commercial Bank of China Ltd.

Projects volition beryllium carried retired successful assorted fields specified arsenic manufacturing, energy, authorities and taxation services, law, education, health, commercialized and finance, and cross-border finance, the announcement details.

The regulators emphasized “the request to absorption connected collaborative advancement.” They added that supervisory bodies “in each regions should absorption connected promoting the aviator operation enactment together, and springiness afloat play to the relation of blockchain successful promoting information sharing, optimizing concern processes, reducing operating costs, improving collaboration efficiency, and gathering a credible system.”

The announcement besides requires that each aviator regions “give precedence to adopting blockchain bundle and hardware technologies and products that are interoperable and susceptible of sustainable development.”

The Cyberspace Administration of China, nationalist manufacture supervisory authorities, and provincial manufacture supervisory authorities volition signifier applicable units and experts to supply guidance connected the readying and operation of the pilot, grooming exchanges, and standardization construction.

Meanwhile, China’s cardinal slope has been investigating the integer yuan. In January, the PBOC revealed that its cardinal slope integer currency (CBDC) has 261 cardinal unsocial users. In addition, transactions worthy astir $14 cardinal person been made utilizing the integer yuan and much than 8 cardinal merchants present judge e-CNY.

What bash you deliberation astir China designating blockchain aviator zones? Let america cognize successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.