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Beijing Releases Blueprint, set to become a Blockchain Hub

Beijing has released a blueprint that aims to position it as a hub for Blockchain technology and innovations. The report is a 145-page blueprint that outlines the plans of the city to utilize Blockchain technology. The blueprint is called the “Beijing Government Service Blockchain Application Innovation Blue Book”. It is the first edition among many blueprints that will be launched by the city in the near future. The report intends to onboard most of the government services on the Blockchain and reduce paper handling and issuing. It states that over 140 government services will be issued electronically through a platform that is governed by Blockchain technology.

The report has been designed by the Beijing Blockchain Working Group Expert Group and was officially launched on the 17th of  July 2020. Once implemented, the report envisages a future that will promote openness, cut costs, and reduce frequent trips to government offices. The report also foresees a scenario where the government agencies, individual businesses, and the public will work hand in hand to implement the plan.

This new system states that some departments like the real estate department in the country should be fully automated and brought on-chain. Enterprises that take advantage of this system will also save on the time it takes to make trips to and from the bank for account openings. Since most of their data will be on the Blockchain, it will also save them on filing details when applying for financial assistance by up to 80%. Currently most of the disputes are handled using offline mechanisms. It is envisaged that adopting this new technology will enable over 253 business issues and over 60 individual issues to be carried out on the Blockchain. This should save time and cost of printing materials.

The plan has broken the technology into three distinct parts. These are data sharing and exchange, business management and storage of electronic certificates. Relevant individuals in the different government departments will be responsible for onboarding all the key data and information on the chain to ensure that it is traceable and open.

 All the systems in the city will be harmonized and use Blockchain technology. This should break down the time it takes to get information from one platform to another. All certificates will also be issued electronically and stored on the chain through photography once they have been certified.

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