China launches massive blockchain testing project in various industries

China launches massive blockchain testing project in various industries

The China Cyberspace Authority on Sunday announced the launch of a new blockchain innovation testing program involving 15 municipalities and 164 organizations including companies, universities, hospitals and industry groups.

Image source: Pixabay

Image source: Pixabay

Tests will take place in 15 pilot areas, including areas in major Chinese cities such as Beijing and Shanghai, as well as Guangzhou (Guangdong) and Chengdu (Sichuan), according to a statement from the regulator published on its official WeChat social media account.

Among the companies and organizations selected to participate in the new program were SAIC-GM-Wuling Automobile Co., China National Offshore Oil Corp, Beijing Gas Group Co. and Industrial and Commercial Bank of China Ltd. Organizations and companies will pilot projects in areas such as manufacturing, energy, government and tax services, law, education, healthcare, trade and finance, and cross-border transactions.

According to the statement, the blockchain-related infrastructure will be consolidated and deployed in a balanced manner in the areas involved in testing to form large-scale data exchange capabilities that meet the needs of production purposes.

The agency added that companies participating in the program are encouraged to use blockchain-related hardware products and software that are “compatible” and “consistent”.

“The cyberspace administration of each field and the relevant industry regulator should … fully exploit the role of blockchain in promoting data exchange, streamlining business processes, reducing operational costs and improving collaboration efficiency in building a reliable system.” the regulator said in a statement issued jointly with 16 government agencies, including the Ministry of Education, the Ministry of Industry and Information Technology, the Central Bank, the National Energy Administration and the China Securities Regulatory Commission.



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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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