Chinese government plans to use blockchain to track charity

By Staff Writer

Despite its skepticism towards cryptocurrencies, the Chinese government enthusiasm for blockchain got a big boost this week after the government touted the technology for its potential to help monitor and bring more transparency to philanthropic activities.

China’s Ministry of Civil Affairs (MCA) announced in its action plan Monday (September 10) it plans to implement blockchain as part of an overhaul of its system used to track charitable activities.

The MCA’s four-year plan through 2022 pledges to explore the use of blockchain technology to bring more transparency to charitable activities in what is seen as a part of the latest initiative involving the use of blockchain tech at a state level.

According to the announcement, the officials will “build a tamper-proof charity organization information query system and enhance the authority, transparency and public trust in information publishing and search services.”

Blockchain will take priority within the plan, with the system monitoring charitable donations to be upgraded by the end of this year.

Various blockchain plans continue to surface from the Chinese government this year, despite an ongoing crackdown on cryptocurrency and its associated technology.

As some crypto media has reported, popular social network WeChat blocked the sales channel of Bitcoin (BTC) mining giant Bitmain this week, the latest in a series of crackdowns following new demands on how crypto can be promoted from Beijing in late August.

At the same time, last week China’s Supreme Court ruled that evidence authenticated with blockchain technology is binding in legal disputes.

Share
Leave a Reply

Your email address will not be published. Required fields are marked *