China Launches Blockchain-Based Service Network for Global Commercial Use
The Chinese city of Suzhou is testing a blockchain platform for providing notary services over the Internet.
A pilot program initiated by the city administration will help millions of citizens gain remote access to legal and notary institutions.
Suzhou’s new online service will allow users to upload documents, audio and video recordings to the cloud, and track their processing in real time. However, unlike standard file storage methods, the notary platform will use the blockchain to process all information, from recording to distribution..
Such a model will simplify storage and the control data, as well as increase the level of system security by making administrative enforcement transparent.
The Chinese government actively supports the blockchain and stimulates its implementation in various areas. To accelerate the introduction of this technology into the country’s economy, a deputy of the National People’s Congress recently even suggested creating a separate national development fund..
text: Ivan Malichenko, photo: Shutterstock