The Chinese Government Set Up Pilot Zones And Entities For Blockchain Projects

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Key takeaways:

  • Sixteen Chinese governmental bodies introduced a list of countrywide blockchain pilot zones and entities.
  • The listing has 15 pilot zones and 164 entities.
  • Projects might be finished in diverse fields.

On Sunday, Sixteen Chinese governmental bodies introduced a list of countrywide blockchain pilot zones and entities. The sixteen governmental bodies encompass the People’s Bank of China (PBOC), the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission.

The listing has 15 pilot zones, which include regions in Beijing and Shanghai, in addition to Guangzhou and Chengdu withinside the southern Guangdong and Sichuan provinces respectively. It additionally names 164 entities, which include hospitals, universities, and businesses which have been decided on for blockchain pilot projects.

The regulators emphasized “the requirement to recognition on collaborative advancement.” They brought that supervisory bodies “in all areas must recognition on selling the pilot creation paintings together, and provide complete play to the position of blockchain in selling facts sharing, optimizing commercial enterprise processes, lowering running costs, enhancing collaboration efficiency, and constructing a reputable system.”

In addition to this, the businesses selected are SAIC-GM-Wuling Automobile Co., China National Offshore Oil Corp, Beijing Gas Group Co., and Industrial and Commercial Bank of China Ltd. However, Projects might be finished in diverse fields which include manufacturing, energy, authorities and tax services, law, education, health, exchange and finance, and cross-border finance, the declaration details.

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Purnima Dhar

A journalist on a voyage of unearthing the world of fathomless things in tech world. An odyssey writer at eventide and a greek mythology reader while in hush.I Breathe for writing content and fabricating media ties.