Chinese media has revealed details of the country’s massive efforts in blockchain technology to handle its population’s data, and what it’s capable of is almost unimaginable.
according to bjdthe Beijing giant dubbed “honeycomb” consists of 1,000 high-performance servers, a total of which can handle 240 million smart contract transactions every second.
Data security and privacy, with a large part of data verification, is said to support transactions across a number of industries including travel, online shopping, hospital registration, business-to-business financial settlements, government collaboration and much more.
honeycomb blockchain
The country’s two-year-old independently controllable blockchain hardware and software technology system, Chang’an Chain, is behind this latest development in Beijing.
Some have called this an important moment for China, as countries such as the United States have imposed a number of restrictions preventing the trade of certain technologies.
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The fact that the country is able to sustain such significant constructions and developments is testament to the fact that it may no longer require input from other countries, which puts it ahead of many.
BJD claims that the blockchain can dismantle “islands of information” and allow more than 80 departments and 16 provinces to collaborate and share data more effectively, all in an effort to improve the “coordination” of its governance system.
The report notes that it will “greatly facilitate people’s lives,” but for many, it may just be another step in the wrong direction as the republic continues to collect more data on its citizens.
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