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Chinese media has revealed details of the country’s massive blockchain efforts to process the population’s data, and what it is capable of is almost unthinkable.
According to BJD (opens in new tab)the Beijing behemoth dubbed the “Honeycomb” includes 1,000 powerful servers, the sum of which is capable of handling 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 number of industries, including travel, online shopping, hospital registrations, corporate financial settlements, government cooperation, and many more.
‘Honeycomb’ blockchain cluster
Chang’an Chain, the two-year-old “independently controllable blockchain software and hardware technology system” homegrown, is behind this latest development in Beijing.
Some have touted this as an important moment for China, as countries like the US have imposed a number of restrictions preventing the trade of certain technologies.
The fact that the country can sustain such significant construction and development is a testament to the fact that it may no longer need input from other countries, putting it ahead of many.
BJD claims the blockchain cluster could serve to break up “islands of information” and enable more than 80 departments and 16 districts to collaborate and share data more effectively, all in an effort to “coordinate” of its management system.
The report indicates that it would “greatly make people’s lives easier”, but for many it could be a step in the wrong direction as the Republic continues to collect more data on its citizens.
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