The People's Republic of China intends to expand the use of blockchain technology across companies and government institutions in the country.
The China Cyberspace Administration (CAC) has announced the start of an internal effort to accelerate blockchain development and innovation across 15 regions and 164 entities, according to Coin Telegraph.
The China Cyberspace Administration, along with other government agencies, has directed regulatory authorities to promote extensive and balanced planning of blockchain technology infrastructure in the region, and to form an exchange support capacity data across large-scale production chains, promoting the formation of a collaborative multilateral blockchain industry environment.
The notice also included a list of cities, businesses, and other entities — pre-selected through local and administrative recommendations — that would directly participate in the Blockchain pilots.
Key areas of blockchain development include manufacturing, energy, government data sharing, services, law enforcement, taxation, criminal prosecutions and inspections, copyright, civil affairs, human society, education, healthcare, trade finance, and risk control management. stock market and cross-border financing.
The publication also emphasizes the need for regulatory departments to coordinate the advancement and promotion of pilot projects and give full play to the role of blockchain in enhancing data sharing, improving business processes, lowering operating costs and improving efficiency. Collaborative and reliable system building.
