The Chinese Ministry of Public Security plans to roll out a new blockchain-based platform called RealDID to verify the real-name identities of its citizens.
According to a press release for an event held on Dec. 12 by the Blockchain Service Network (BSN), a Chinese blockchain firm, the project, planned with the Chinese government, will have multiple use cases. These include personal real name confirmation, personal data encrypted protection and certification, private logins, business identities, personal identification certificate services and information vouchers on personal identity.
The application will allow Chinese citizens to register and log into online portals anonymously using DID addresses, which will ensure transactions and data remain private between individuals and businesses.
While there was no official mention of the rollout date or when it will be implemented across China’s massive 1.4 billion-strong population, the announcement said it had “huge potential” in guaranteeing personal privacy.
BSN is operated by China’s National Information Center and has ties with China-based Big Tech companies such as China Mobile and China UnionPay.
This comes after news in late October that six Chinese social media platforms, including the popular WeChat, enforced a mandate in which content creators with more than 500,000 to 1 million followers must publicly display their real names and any financial backing.
China has recently accelerated many of its initiatives and regulations around emerging technologies, including the development of artificial intelligence, central bank digital currencies (CBDCs) and cryptocurrencies.
It is also working to become less dependent on semiconductor chips made in the United States by boosting domestic production.