THELOGICALINDIAN - The Chinese government has accustomed 15 pilot zones and 164 entities for blockchain projects Projects will be agitated out in assorted fields such as accomplishment activity government and tax casework law apprenticeship bloom barter and accounts and cantankerous bound finance
China Establishes Blockchain Testing Zones
Sixteen Chinese authoritative bodies accordingly appear Sunday a account of civic blockchain pilot zones “in adjustment to added backpack out the avant-garde appliance of blockchain” technology.
The 16 authoritative bodies accommodate the People’s Bank of China (PBOC), the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission.
The account has 15 pilot zones, including areas in Beijing and Shanghai, as able-bodied as Guangzhou and Chengdu in the southern Guangdong and Sichuan ambit respectively. It additionally names 164 entities, including hospitals, universities, and companies that accept been called for blockchain pilot projects. Among the companies called are SAIC-GM-Wuling Automobile Co., China National Offshore Oil Corp, Beijing Gas Group Co., and Industrial and Commercial Bank of China Ltd.
Projects will be agitated out in assorted fields such as manufacturing, energy, government and tax services, law, education, health, barter and finance, and cross-border finance, the advertisement details.
The regulators emphasized “the charge to focus on collaborative advancement.” They added that authoritative bodies “in all regions should focus on announcement the pilot architecture assignment together, and accord abounding comedy to the role of blockchain in announcement abstracts sharing, optimizing business processes, abbreviation operating costs, convalescent accord efficiency, and architecture a aboveboard system.”
The advertisement additionally requires that all pilot regions “give antecedence to adopting blockchain software and accouterments technologies and articles that are interoperable and able of acceptable development.”
The Cyberspace Administration of China, civic industry authoritative authorities, and bigoted industry authoritative authorities will adapt accordant units and experts to accommodate advice on the planning and architecture of the pilot, training exchanges, and acclimation construction.
Meanwhile, China’s axial coffer has been testing the agenda yuan. In January, the PBOC revealed that its axial coffer agenda bill (CBDC) has 261 actor different users. In addition, affairs account about $14 billion acquire been fabricated application the agenda yuan and added than 8 actor merchants now acquire e-CNY.
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