BlockchainChinese government releases its first-ever blockchain application blueprint, continuing...

Chinese government releases its first-ever blockchain application blueprint, continuing on its major tech push

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The Chinese government has issued its first-ever blueprint for blockchain applications in relation to government services.

Beijing’s blueprint shows that 140 government-related applications are already using blockchain. They can be divided into three groups: data sharing, HTML4_ HTML5_ exchange HTML4_ HTML5_ HTML5_, collaboration processing, certificate storage, and electronic certificate.

According to a Report, blockchain technology is a breakthrough technology. It allows data sharing to be faster and more efficient.

One sector that is suitable for use in blockchain-based cases is the real-estate registration system. It involves 11 units, including, the Municipal Planning Self-Commissioning Committee, Housing and Urban-Rural Development Commission, Taxation Bureau, Public Security, Market Supervision Bureau, Civil Affairs, Banking and Insurance Supervision, and Taxation Bureau.

The blockchain-based realty registry system would allow departments to check that electronic licenses are authentic and permit traceability during the sharing process.

China’s technology push to break US dependence

China previously announced a brand new 15-year roadmap as part the country’s global tech push. The blueprint was designed to set the international standards for the next-generation technology, including blockchain.

China Standards 2030 Beijing’s ambitious plan is due to be made public this year. Standards are vital for the development of emerging technologies. Wi-Fi as well as 4G mobile networks follow certain technical standards.

China will likely send the last satellite to orbit to complete its global navigation network. The plan is similar to that of the US’s global positioning system (GPS). China’s Beidou network is made up of 30 satellites. It is used for both navigation and messaging. This network is completely independent the US GPS systems. Due to the possibility of a major conflict between China and the US, the GPS system could also be cut off from China.

US and European firms have dominated standards development; Beijing is therefore encouraging its domestic experts and firms to join the global team for setting standards in emerging technologies.

China’s central Bank has taken another big step to mass-adoption of the digital yuan. It tested its delivery giant Meituan Dianping.

Bilibili, Meituan Dianping, and WeChat pays are both currently used by the payment system, Alipay. China, second in world economy, has a $27 Trillion payments industry. It could shift its dependence on the US with the testing and implementation of the DCEP.

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