China Set to Deploy Identity Verification System Built on Blockchain Technology…
Chinese authorities are actively exploring additional applications for blockchain technology, notwithstanding the overarching prohibition on digital currencies. Their latest undertaking involves the development of a blockchain-based system for digital identity verification.
The Chinese Ministry of Public Security has officially announced plans to launch the RealDID service, which uses blockchain technology to authenticate citizens’ real names. The ministry will collaborate on the project with the Blockchain Service Network, Beijing Zhongdun Anxin Technology, and China Mobile Communications Group.
The plan showcased a number of use cases for blockchain-based digital identity systems, such as personalized business names, information vouchers, private logins, and personal identification services.
Citizens will have more control over their identities thanks to the RealDID platform, which will allow them to decide what information to reveal to outside parties.
Businesses can only obtain the minimal amount of personal data required by using a number of privacy-focused features.
By offering “anonymity at the front desk and real name at the backend,” it achieves high-level privacy and, according to officials, could serve as the cornerstone of a “national data infrastructure.”
According to the report, “the combination of distributed digital identity infrastructure and blockchain infrastructure plays an important role in serving the development of the digital economy and supporting the circulation of national data elements.”
While it made reference to onboarding businesses to the platform, it withheld details regarding a public launch.
..The release stated, “[It is believed] that more application scenarios will be created with the addition of more business platforms in the future, giving full play to the potential of BSN’s real-name DID service and creating greater value.”
In anticipation of a planned launch, organizers have scheduled a conference to discuss the technical and regulatory direction of the identity verification system with stakeholders and industry experts.
Implementing blockchain technology to power its digital economy
China has fully embraced blockchain technology, relying on it for its plans for a metaverse and central bank digital currency (CBDC). In order to foster innovation, Chinese authorities are promoting the creation of a single national blockchain framework and promising to take strong action against Web3 crimes to safeguard users.
The government started establishing a blockchain center in May with the goal of expanding its talent pool and fostering the expansion of the industry. In collaboration with research organizations, academic institutions, and business enterprises, the center hopes to provide over 500,000 people with blockchain expertise in the upcoming years.
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