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Blockchain technology continues to integrate into our lives day by day, and significant steps are being taken in this field. Accordingly, the Chinese Ministry of Public Security announced plans to implement a new blockchain-based platform called RealDID to verify citizen identities. Detailed information on the subject was given in a press release for an event organized by the China-based blockchain company, Blockchain-Based Service Network (BSN) on December 12th.
According to the China-based company BSN, the project planned together with the Chinese government will have multiple uses, highlighting important clues about the future process. These steps include real-name verification containing personal data, encryption and certification of personal data, special authorizations, business identities, personal identity certificate services, and information related to personal identity.
The application will allow Chinese citizens to anonymously register and log in to online portals using their DID addresses, ensuring transactions and data remain confidential between individuals and businesses.
No official announcement has been made regarding when the application will be implemented across China’s vast population of 1.4 billion, and the announcement mentioned that this application has great potential in ensuring personal privacy. BSN is operated by China’s National Information Center and continues to work with major China-based technology companies, including China Mobile and China UnionPay.
This step was taken following news at the end of October that six Chinese social media platforms, including the popular WeChat, introduced a requirement to publicly disclose the real names and any financial support of content creators with 500,000 to 1 million followers.
Recently, China has been accelerating its initiatives and regulations related to emerging technologies, including artificial intelligence, central bank digital currencies (CBDC), and cryptocurrency units, attracting attention. The country also continues its efforts to increase domestic production and become less dependent on semiconductor chips produced in the USA.
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