China's Ministry of Public Security plans to implement a new blockchain-based platform called RealDID to verify the real identities of its citizens.
According to a press release For an event held on December 12 by Blockchain-based Service Network (BSN), a Chinese blockchain company, the project, planned with the Chinese government, will have multiple use cases. These include personal real name confirmation, encrypted protection and certification of personal data, private logins, business identities, personal identification certificate services, and personal identity information vouchers.
The app will allow Chinese citizens to register and log in to online portals anonymously using DID addresses, ensuring that transactions and data remain private between individuals and companies.
While there was no official mention of a rollout date or when it will be rolled out to China's massive 1.4 billion population, the announcement said it had “enormous potential” to ensure personal privacy.
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BSN is operated by China's National Information Center and has ties to large China-based technology companies such as China Mobile and China UnionPay.
this comes later news In late October, six Chinese social media platforms, including the popular WeChat, imposed a mandate that content creators with more than 500,000 to 1 million followers must publicly display their real names and any financial backing.
China has recently accelerated many of its initiatives and regulations around emerging technologies, including the development of artificial intelligence, central bank digital currencies (CBDCs), and cryptocurrencies.
It is also working to become less dependent on American-made semiconductor chips by boosting domestic production.
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