Chinese Authorities Embrace Blockchain for Digital Identity Verification Despite Cryptocurrency Ban
In a surprising move, Chinese authorities are exploring the potential of blockchain technology for various use cases, particularly in the realm of digital identity verification. The Ministry of Public Security in China has unveiled plans for a blockchain-based identity verification system called RealDID, developed in collaboration with China Mobile Communications Group, Beijing Zhongdun Anxin Technology, and the Blockchain Service Network.
RealDID aims to enhance citizens’ control over their identities, allowing them to selectively disclose information to third parties. The platform provides privacy features that limit enterprises’ access to only essential personal information. The system is designed to offer “anonymity at the front desk and real name at the backend,” potentially serving as a foundation for a national data infrastructure.
The proposed use cases for the blockchain-based digital identity system include personal identification services, customized business names, private logins, and information vouchers. While the public launch details remain undisclosed, the project hints at onboarding businesses to the platform in the future.
Officials emphasize the importance of combining blockchain and digital identity infrastructure to support the development of the digital economy and facilitate the circulation of national data elements. The system’s potential was highlighted as a key player in the broader landscape of China’s digital transformation.
In preparation for the launch, authorities have outlined plans for a conference involving industry experts and stakeholders to discuss the technical and regulatory aspects of the identity verification system. This move aligns with China’s broader strategy of embracing blockchain technology, evident in its initiatives related to the central bank digital currency (CBDC), metaverse development, and the establishment of a national blockchain framework to foster innovation. The government’s commitment to blockchain education and talent development further underscores its dedication to harnessing the technology for future growth and industry support.