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IPFS Compliance Issue in China

More and more people in China begin to worry about the compliance issue as IPFS/ Filecoin test in full swing. Will decentralized storage like IPFS be banned due to conflicts with Internet supervision and data security policies in China?

There is no need to worry too much about compliance issue of IPFS in the short term. The project is too young, and the future development is uncertain, so regulators in China will not pay too much attention to such an early stage. Bitcoin came into being in 2008, and in 2013, regulation attached great importance to it for the first time in China.

Traditional cloud storage, that is, centralized cloud storage, the risk is generally borne by the cloud storage service provider, that is, the platform.

In addition to routine license application and other necessary procedural matters, the most common two risks are data compliance risk and infringement risk.

At present, data compliance risk is more focused on the protection of personal information, involving the compliance requirements of data collection, use, storage, flow, deletion, cross-border and other links. The core is to avoid unnecessary collection and leakage, and data outbound, that is, the cross-border flow of data needs to meet higher requirements.

For the vast majority of Filecoin miners, the worry should be whether the project will be stopped by the government, and their investment will be wasted. There is no need to worry too much in the short term as well. The technology is neutral, the whole project can be understood as a paid storage business, and Filecoin will be regarded as a game token for storage and retrieval consumption. As long as it is not used as a large number of illegal and criminal matters and does not involve the exchange of RMB, it is unlikely to be stopped suddenly.

There is no problem in storing common legal content. But if the content stored in IPFS is illegal or sensitive, the compliance risk in China will rise linearly.

Sensitive content in China is mainly concentrated in two categories, personal information, and business secrets; illegal content involves two layers, the first layer is illegal content, such as those related to pornography, violence, and terrorism and other contents explicitly prohibited by law; the second layer is potential illegal content, such as infringing other people’s copyright and other related intellectual property rights.

Whether it is the fragmentary crypto storage of the official propaganda or the whole storage of the test network, the risks of miners are basically concentrated in three things: storage, dissemination, and storage.

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