China’s Cyberspace Watchdog Approves 309 More Blockchain Services

The Our on-line world Administration of China, the nation’s central Web regulator, censor, oversight and management company, has printed its second record of registered blockchain service suppliers.

The brand new batch contains 309 firms which are representatives of varied industries, together with cultural tourism, schooling, e-commerce, regulation, healthcare and provide chains, Chinese language information outlet 8BTC reported on Oct. 21.

Conventional sectors embrace blockchain

Among the many registered entities, for instance, are companies reminiscent of HiCloud and AliCloud — blockchain arms of tech companies Huawei and Alibaba, respectively.

As well as, the record contains giants from the standard sectors reminiscent of China Southern Airways, which is growing its personal blockchain platform, in addition to representatives of the monetary companies trade like Industrial and Industrial Financial institution of China. 

Per the report, most of the registered blockchain startups on the record are at present concerned in public chains, crypto wallets and mining swimming pools.

Alongside industrial enterprises, numerous authorities companies had been additionally included within the record. The State Administration of Overseas Trade, for example, is growing its cross-border enterprise blockchain service platform, whereas the Hangzhou Web Notary Workplace is listed because of its blockchain-based digital proof repository.

Regulation or censorship?

It’s famous that the our on-line world watchdog’s “Regulation for Managing Blockchain Data Providers” was first launched in October 2018 and instantly brought about heated debates amongst crypto and blockchain fans as a consequence of its censorship-like nature.

Based on the regulation, Chinese language blockchain service suppliers should confirm their customers’ actual names through a nationwide ID or telephone quantity, in addition to retailer and supply their purchasers’ information to authorities for inspection. Moreover, firms are prohibited from utilizing blockchain to “produce, duplicate, publish, or disseminate” any information that could possibly be declared a risk to nationwide safety.

As Cointelegraph reported beforehand, the Chinese language regulator’s first record of registered blockchain service suppliers included 197 firms and was printed on March 30.

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