Coin World reports:
According to China Daily on July 5th (Reporter Zhao Lei), Chang’an Chain, China’s independently innovated blockchain hardware and software technology system, will support the construction of a national data circulation infrastructure node in Beijing, promoting the high-quality circulation and value enhancement of data elements while ensuring privacy and security. On July 4th, at the Data Elements High-Level Forum of the 2024 Global Digital Economy Conference, the Chang’an Chain·Data Circulation and Value-Added Collaboration Network was officially announced to commence construction. Under the guidance of Beijing Municipal Bureau of Government Services and Data Management, this collaboration network utilizes the high-performance Chang’an Chain and privacy computing technology to provide secure transmission, trustworthy collaboration, and closed-loop incentives for the circulation and application of data elements.
As China’s political and technological innovation center, Beijing has amassed a vast amount of data in social management, public services, scientific research, innovation, and commercial services, forming a leading domestic data element market. Statistics show that in 2023, Beijing’s digital economy achieved an added value of 1,876.67 billion yuan, an increase of 8.5% over the previous year, accounting for 42.9% of the regional GDP. According to plans, by 2030, the scale of Beijing’s data element market will reach 200 billion yuan. Therefore, breaking data silos and promoting better circulation, application, and value enhancement of data, Beijing has the foundation and the motivation.
The Chang’an Chain·Data Circulation and Value-Added Collaboration Network is jointly constructed by over ten research institutions and leading domestic information technology companies, including Beijing Microcore Blockchain and Edge Computing Research Institute and Capital Information Development Co., Ltd. Aiming at the construction goal of “creating a core node of national data circulation infrastructure” in Beijing, it will build a blockchain and privacy computing power platform, a distributed data circulation platform, a co-built and shared data resource network, and form an open data ecosystem alliance, empowering important industries and key areas such as finance, telecommunications, energy, and healthcare in the national economy and social development.
In this process, the high-performance Chang’an Chain integrated with privacy computing will play a fundamental role. The R&D head explained that after data enters the Chang’an Chain in the collaboration network, it adopts distributed storage, ensuring the entire circulation is authentic, credible, and immutable; privacy computing technology encrypts the data, making the original data “usable but invisible,” securing the privacy of data owners. Additionally, through cross-chain mechanisms, the collaboration network achieves deep cooperation with various data circulation and utilization platforms, sharing data resource directory information, realizing cross-platform, cross-industry, and cross-regional data circulation and utilization, and breaking data islands. Moreover, the Chang’an Chain smart contract ensures transparent and measurable data throughout the process, and the profits from data circulation and utilization services are efficiently distributed to contributors according to agreed rules through smart contracts, significantly increasing the enthusiasm of data providers.
Chang’an Chain is China’s first independently controllable blockchain hardware and software technology system, led by Microcore Research Institute, with globally leading performance. Since its launch in 2021, Chang’an Chain has been continuously applied to national-level tax services, trusted digital identity systems, government services, supply chain finance, and a host of other important industries and key areas of the national economy, constantly empowering the high-quality development of the national digital economy.
Source: China Daily Website
