Yesterday, Chinese tech giant Huawei announced that its blockchain directory for government is live in Beijing, according to
East Money. Revealed at a conference on Sunday, the firm has developed a data exchange platform with the immutability and trust enabled by blockchain.
Zhang Xiaojun, head of Huawei’s blockchain activities, believes that the technology’s value is not to “invest in 50 yuan and earn 50,000 yuan in the future”, but to streamline intermediate processes and see permanent cost savings. Which is the issue the firm’s data sharing solution hopes to address.
A directory for the vast amount of government data, Huawei’s blockchain links over 50 Beijing institutions, such as the Municipal Tax, Medical Insurance, and Public Security Bureaus. Rather than centralized data silos, blockchain allows for more efficient database management including queries, trusted sharing, and permissions.
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