Chinese Ministry of Public Security Plans to Launch Blockchain-Based Platform for Identity Verification

New Platform RealDID to Provide Secure and Private Online Transactions

The Chinese Ministry of Public Security is set to introduce a revolutionary blockchain-based platform called RealDID, aimed at verifying the real-name identities of its citizens. Developed in collaboration with the Blockchain-based Service Network (BSN), the project boasts a wide range of applications, including personal identification, encrypted data protection, and secure logins for both individuals and businesses.

Protecting Personal Privacy with RealDID

RealDID will enable Chinese citizens to register and access online platforms anonymously using Decentralized Identifiers (DID addresses). This innovative solution ensures that all transactions and data are kept private between users and businesses. Although an official rollout date has not been announced, the Chinese government has indicated that RealDID has the potential to significantly enhance personal privacy.

BSN: Powering the Future of Blockchain in China

Operated by China's National Information Center, the Blockchain-based Service Network (BSN) enjoys strong ties with major Chinese tech companies, including China Mobile and China UnionPay. This latest development follows the recent enforcement of real-name disclosure regulations on six Chinese social media platforms, including WeChat, which require content creators with large followings to publicly display their real names and financial backing.

China's Accelerated Push for Technological Advancements

China has been actively pursuing various technological advancements, including artificial intelligence, central bank digital currencies (CBDCs), and cryptocurrencies. Additionally, the country aims to reduce its reliance on US-made semiconductor chips by boosting domestic production. With its commitment to innovation, China is poised to become a trailblazer in the ever-evolving digital landscape.