In a bid to revamp its charity tracking system, the Chinese Ministry of Civil Affairs (MCA) has announced its plan to use blockchain technology to track charity donations, making it the most recent initiative entailing the use of blockchain technology at the government level.
The Ministry of Civil Affairs’ four-year plan throughout 2022 vows to explore the utilization of blockchain tech in charity tracking, charitable donations, transparent management, and elsewhere.
Government authorities will also create tamper-resistant charity organization information query system and heighten the transparency, authority and public trust information search and publishing services.
The action plan of the Chinese Government aims to focus and prioritize on blockchain and the system tracking charitable donations will be upgraded by the end of 2018. The plan selects the blockchain technology component to complete the latest round upgrade of Charity China’ platform.
Under this plan, the MCA informed municipal and provincial agencies that the blockchain network will incorporate the extant government charity databases at every level with the private sector operating the online donation services. This will enable the public to see the data on charitable donations made through a wide range of services via a distributed network.
In spite of a continuing crackdown on cryptocurrency and its connected technology by the Chinese government, a number of blockchain proposals continue to appear from the administration in the ongoing year.
This week, WeChat, a renowned social network platform, blocked the sales channel of Bitmain, a Beijing-based cryptocurrency mining chip maker, making it the government’s continuing crackdown on cryptocurrency.
Meanwhile, China’s Supreme Court passed a ruling that evidence authenticated with blockchain technology is concrete in lawsuits.
Last month, the Communist Party of China (CPC) unveiled a book on blockchain technology that provided a scientific description of major features of blockchain technology, its origin, and its potential applications in the future, and the key challenges associated with the fostering of the latest technology.
By launching the primer, the party envisions to help government officials in comprehending the concept of distributed ledger technology (DLT) and mull over the advantages and challenges of fostering blockchain on a national scale.
Earlier that month, the Bank of China announced its plants to make an investment of over one percent of its operating yearly income in the development of blockchain, fintech, and the Internet of Things (IoT). The operating annual income of the Bank of China stood at 483.7 billion yuan last year.
