Chinese media have revealed details about the country’s massive blockchain efforts to handle its people’s data, and what it’s capable of is almost unthinkable.
Accordingly BJD (opens in new tab)The behemoth known as “Honeycomb” in Beijing comprises 1,000 high-performance servers, the total of which is capable of processing 240 million smart contract transactions per second.
It is said that data security and privacy with a large part of data verification will underpin transactions in a range of industries including travel, online shopping, hospital registrations, financial settlements between companies, government cooperation and many more.
Honeycomb blockchain cluster
The country’s two-year-old native “independently governable blockchain software and hardware technology system,” Chang’an Chain, is behind this latest development in Beijing.
Some have touted this as a significant moment for China, as countries like the US have imposed a slew of restrictions preventing trade in certain technologies.
The fact that the country is able to sustain such significant construction and development is a testament that it may no longer need the contributions of other countries and it is ahead of many.
BJD claims that the blockchain cluster could serve to break down “islands of information,” allowing over 80 departments and 16 districts to collaborate and share data more effectively, all in an effort to nail down the “coordination” of its system of governance.
The report notes that this would “make people’s lives a lot easier,” but for many it could just be another step in the wrong direction as the republic continues to collect more data on its citizens.
Over The registry (opens in new tab)
