Chinese media have revealed details on the country’s huge blockchain effort to handle its population’s data, and what it’s capable of is almost unthinkable.
BJD, the Beijing behemoth, which has been dubbed the “Honeycomb,” comprises 1,000 high-performance servers, the sum of which can handle 240 million smart contract transactions every single second. It’s said that data security and privacy, with a large portion of data verification, will underpin the transactions across several industries, including travel, online shopping, hospital registrations, financial settlements between enterprises, government collaboration, and much more.
‘Honeycomb’ blockchain cluster
The country’s two-year-old homegrown “independently controllable blockchain software and hardware technology system,” Chang’an Chain, is behind this latest Beijing development.
Some have touted this as a significant moment for China, as countries like the US have imposed several restrictions that prevent the trade of certain technologies.
The fact that the country can sustain such significant builds and developments is a testament to the fact that it may no longer require other countries’ inputs, placing it ahead of many.
BJD claims that the blockchain cluster could serve to break up “information islands” and allow over 80 departments and 16 districts to collaborate and share data more effectively, all to nail the “coordination” of its governance system.
The report indicates that it would “greatly facilitate people’s lives,” but for many, it may just be one more step in the wrong direction as the Republic continues to gather more data on its citizens.
Via The Register