China is in 15 city governments and 164 different areas, including companies, universities, hospitals and industry groups. Blockchain announced that it has started trials on the application of the technology.
China Will Benefit From The Advantages Of Blockchain Technology
According to a statement released by the country’s “Cyber Management Department” on Sunday, the purpose of the trial program was determined to “take advantage of the capabilities of blockchain technology to facilitate data sharing, optimize business procedures, reduce cost, increase inter-agency synergy and create reliable systems.”
Among the cities chosen by the country’s government are the capital Beijing, Guangzhou in the south of the country and Guiyang in the southwest.
These cities will conduct “extensive” trials in the field of Blockchain technology. Other designated regions will conduct specific trials in the areas of production, energy, legal issues, copyright, international finance, education and health.
Blockchain-based infrastructures will strengthen and be balanced to reach the potential for large-scale data exchange in the areas involved in the trials, Chinese officials said.
Additionally, institutions participating in the trial program will be encouraged to use “interoperable” and “sustainable” Blockchain hardware and software products.
Cryptocurrency China, which is known to be extremely distant to the field, is known for giving great importance to Blockchain-based technologies such as the digital Yuan that it created.
The Digital Yuan project is expected to be trialled at the 2022 Winter Olympics, which will begin shortly.