Chinese State Firm Uses Blockchain for Identity and Supply-Chain Tracking

Chinese Blockchain Identity

A Chinese State firm launches a blockchain-as-a-service (BaaS) platform used for authentication and supply chain tracking. 

According to The China Banknote, the Blockchain Technology Research Institute officially launched their project called Blockchain Registry Open Platform (BROP) at a financial technology summit in Hangzhou on Monday, reported Coindesk.

According to their website,

“The Luopu Blockchain Registration Open Platform (BROP) is a blockchain registration and open platform based on independent intellectual property rights research and development of the Bank of China Blockchain Blockchain Technology Research Institute.
[It is] committed to the establishment of digital identities, trusted data, and digital vouchers based on blockchain technology to achieve trusted collaboration.”

The main features of the new Baas platform are digital identity, trusted data and digital certificate.

The platform “associates digital identities with real identities to achieve true traceability of digital behavior. ”

The trusted data refers to the immutability of the information stored on the decentralized database.

The digital certificate means that every “digital vouchers are verified with blockchain consensus verifier.”

China’s government has been active recently regarding blockchain by listing objectives targeted at the standardization of technologies such as blockchain.

Earlier this month, the Investment Association of China announced it will develop an “international blockchain investment development center.”

Last week, it was announced that China was the country that filed the most blockchain patents in 2017.

 

 

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