The authorities in Beijing planned to use blockchain technology, big data, artificial intelligence and 5G for social assistance system improvement. In fact, China employs blockchain for social services improvement.
The Chinese Communist party identified blockchain technology as a key tool, which can help to improve the nationwide social services.
China employs blockchain for social services; the paper prepared and issued
The General Office of the State Council and the General Office of the central Committee both issued an innovative policy paper. The new issued policies provided to all regional department. In this paper they created a guidance of improving and reforming China’s social assistance system.
Apparently, the policy paper includes a comprehensive strategy in order to provide basic social protection and services, distributing resources and emergency relief.
In this paper, the Party highlighted the role of the modern digitization and technologies. In addition, analyzing the different sectors in order to reform.
The authorities are gradually establishing the new system
This section addresses institutions, enterprises, state officials, social organizations and grass-roots mass organizations. They asked all the mentioned sectors to report any obstacles, which they face in providing basic support and assistance, immediately to the country-level officials. For this purpose, all the sectors need to be connected in order to communicate with each other effectively.
As a result, the party noted that they are working on this project to establish a nationwide connectivity. Additionally, the project is gradually establishing a digitizing social security systems. The aim is to use technologies such as blockchain, big data, artificial intelligence, and 5G in social assistance provision.
China employs blockchain for social services; ordinary people are the target
Beijing’s municipal government hopes ordinary people will become the direct beneficiaries of the new project. In fact, the vision is to create a blockahain-based “smart city”.
Meanwhile, the developers are working on China’s nationwide blockchain project. So far, it confirmed that they will use stablecoins as a mean of payment in the new ecosystem.