Chinese media has leaked details about the country’s massive blockchain efforts to handle its population’s data, and what it is capable of is almost unthinkable.
According to BJD (opens in a new tab)Beijing’s behemoth, nicknamed “Honeycomb”, consists of 1,000 high-performance servers, the sum of which is able to handle 240 million smart contract transactions every second.
It is said that data security and privacy, with a large part of data verification, will form the basis of transactions in many industries, including travel, online shopping, hospital registration, business-to-business financial settlements, government cooperation and many more.
Honeycomb blockchain cluster.
Behind this latest achievement in Beijing is the two-year national “independently audited system of blockchain software and hardware technology”, Chang’an Chain.
Some have touted this as a significant moment for China as countries such as the United States have imposed a number of restrictions that prevent trade in certain technologies.
The fact that a country is able to maintain such significant structures and projects means that it may no longer require contributions from other countries, which puts it ahead of many others.
BJD says the blockchain cluster can be used to break up “information islands” and allow more than 80 departments and 16 districts to collaborate and share data more effectively, all to “coordinate” the governance system.
The report points out that “it would make people’s lives much easier”, but for many it could be another step in the wrong direction as the Republic continues to collect more data about its citizens.
By Register (opens in a new tab)