In a step to adopt and utilize the blockchain technology for the real world cases, China has implemented the first E-government blockchain platform in Anhui Province. It is one of the most populous cities of China and the hub of country Global economic prominence.
The local government has launched this blockchain-based initiative to integrate and collaborate the data of several regions and improve the existing infrastructure and business.
Recently, the National Development and Reform Commission (NDRC) informed the reporters that blockchain would collaborate with other innovative technology, AI, Could Computing and Internet of things (IoT) to effectively manage the flow of information in China. It reveals a long term planning of China’s administration to exploit the distributed ledger technology to make the existing systems more efficient with the incresed capacity to handle a massive influx of data efficiently.
This official initiative of incorporation of blockchain technology in the government sector echoes the sentiment of Chinese President Xi Jinping, who recommended the states to harness this evolving technology.
As per the report published by local agency Sohu.com, “The new system will record each authorized action and store certificates for the effective traceability to prevent any misuses. The Provincial Data Resources Bureau is conducting this experiment on a pilot basis and observing its effectiveness before including it in the existing system.”
The rapid development in the field of blockchain shows the aggressive Chinese move to become a world leader in this emerging technology. Lately, despite the ongoing health and financial crisis induced by the Covid-19, the Chinese official confirmed that China is working on Digital Yuan, a government-backed digital currency, and a mobile app designed for this digital currency will soon be available.
Also Read: Bitcoin Halving 2020 & its Impact on Bitcoin Price, Explained
John is working as a professional news editor at GetIgnite. He is accustomed to finding daily reports. Therefore, this keen working and addiction towards his work, it helps him to find good news.