The latest government development out of China is their plan to use a blockchain-based system to improve the security of data related to police investigations. Blockchain will be used for time-stamping and storing data more securely and in a more organized fashion, as the Chinese continue their step-by-step approach to warming up to the new tech.
An Upgrade to Cloud-Based Systems
Cloud-based systems were only recently the new must-have technology for businesses, putting an end to storage issues and concerns over loss of data. However, there have been a number of concerns over the security of the cloud, with a number of high-profile hacks of both individual and corporate data in recent times. The concern the Chinese government have is over the security of cloud-based data when it is transferred between providers; there is no guarantee that it won’t be altered.
However, a blockchain system would remove these concerns by using multi-sig authentication and time-stamping. Indeed, the patent for this tech was submitted back in November 2017, but has now received full approval, paving the way for the development of the system.
Changes on the Horizon?
It is clear that blockchain is being considered a very real option for systems and services at government level in China. However, this doesn’t necessarily mean that the clampdown on ICOs and crypto trading will be relaxed any time soon. Indeed, there are a great many governments and official bodies around the world that are clearly embracing the underlying blockchain technology as setting a new standard for security, but are not yet willing to embrace crypto itself.
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