Chinese media has revealed details of the country’s massive blockchain efforts to manage its people’s data, and what it is capable of is almost unthinkable.
As a result BJD (opens in a new tab), the Beijing-based giant known as “Honeycomb” has 1,000 high-performance servers, the total of which is capable of processing 240 million smart contract transactions per second.
It is said that data security and privacy with much data verification will underpin transactions across a range of industries including travel, online shopping, hospital registrations, settlements business-to-business financing, government cooperation and many more.
Honeycomb blockchain cluster
Chang’an Chain, the country’s native two-year-old “independently governable blockchain hardware and software technology system,” is behind this latest development in Beijing.
Some have touted this as an important moment for China, as countries like the United States have imposed a series of restrictions preventing trade in certain technologies.
The fact that the country is able to support such extensive construction and development is proof that it may no longer need contributions from other countries and is ahead of many others.
BJD claims that the blockchain cluster could serve to break down “islands of information”, allowing more than 80 departments and 16 districts to collaborate and share data more efficiently, all with the aim of establishing the “coordination” of its system of governance.
The report points out that this would “make people’s lives much easier”, but for many it could just be another step in the wrong direction as the republic continues to collect more data on its citizens.
About the registry (opens in a new tab)
Source: www.techradar.com
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