Beijing Embrace Blockchain Technology to Build A New Credit Supervision Mechanism
March 13, as reported by China News Service, Beijing plans to choose some big data credit evaluation pilot projects, using big data, blockchain and other advanced technologies to build a new type of market supervision mechanism with credit as the core and to develop a new kind of innovative social governance method.
The new supervision mechanism includes building a new sharing model with credit big data integration of Beijing, Tianjin and Hebei and developing a credit index evaluation system for citizen and corporate groups to form a structure of honest-rewarding and dishonest-punishment mechanisms.
The Economic and Information Commission of Beijing announced on last Sunday that, before the end of this month, Beijing will revolve around credit big data sharing resources integration along with three aspects of innovation achievements transformation, the depth application of credit big data in the priority areas and credit big data innovation development, to select a group of demonstration credit big data development pilot projects.
Beijing will support the construction of innovative credit big data intra-industry service platform based on big data, blockchain and other advanced technology, as well as improving relevant management systems and standard specifications. Beijing will also promote the integration of the credit evaluation systems in Beijing, Tianjin and Hebei to build a new model for the integration and sharing of big credit data.
Beijing also encourage the establishment of a new type of industry-based supervision mechanism that focuses on the priority industries such as environmental protection and internet finance. Beijing will supports social organizations from third-party to develop a credit index evaluation system for citizen, corporate groups, industry associations and social organizations by using big data and blockchain technologies and enhance the awareness of honest and self-discipline of the general population.
The Economic and Information Commission of Beijing also emphasizes the establishment of innovative industrial parks for credit big data application as well as the incubation of credit big data, blockchain application projects and the achievement transformation from production and academic research integration in these area to build a credit big data ecochain lead by government.