China pilots nationwide blockchain development over real-world use cases

The Cyberspace Administration of China (CAC) announced the commencement of an in-house effort to expedite blockchain improvement and innovation crossed 15 zones and 164 entities. 

The inaugural aims for the large-scale implementation of blockchain exertion crossed businesses and authorities organizations successful China. 

The CAC, on with different authorities agencies, directed the regulatory authorities to “promote the intensive and balanced layout of blockchain exertion infrastructure successful the region, signifier a large-scale production-level cross-chain information speech enactment capability, and beforehand the enactment of a multi-party collaborative blockchain manufacture ecology.”

The notice besides included a database of cities, companies and different entities — predetermined by the section and departmental recommendations — that volition beryllium straight progressive successful the blockchain pilots.

A snippet of CAC's database for blockchain aviator projects. Source: CAC

The cardinal areas of blockchain improvement see manufacturing, energy, authorities information sharing and services, instrumentality enforcement, taxation, transgression trials, inspection, copyright, civilian affairs, quality society, education, healthcare, commercialized finance, hazard power management, equity marketplace and cross-border finance.

The circular besides emphasizes the request for regulatory departments to coordinate the advancement and promotion of the aviator projects “and springiness afloat play to the relation of blockchain successful promoting information sharing, optimizing concern processes, reducing operating costs, improving collaborative efficiency, and gathering a trusted system.”

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