In China created the first zone for blockchain studies

© RIA Novosti / Vladimir Astapkovich in photobacteria with farms for mining cryptocurrency. Archival photoIn China created the first zone for blockchain studies© RIA Novosti / Vladimir Astapkovich the image Bank

China on Monday officially launched the country’s first experimental zone for the development of block chain technologies, according to the National radio of China.

This zone is established in the territory of high-tech industrial Park in the County Canmi in the free trade zone Hainan, with the participation of the research center of the blockchain technology of the University of Oxford. The establishment of the experimental zone was officially approved by the authorities of Hainan province at the end of September.

In addition, on Monday it began its work, the research Institute of the blockchain. His research will focus, primarily, on the problems of the use of the blockchain in the areas of cross-border trade, inclusive Finance and credit rating.

It is planned that the project will be a platform to strengthen the cooperation of China in this field with leading research institutions from around the world and also the largest representatives of the blockchain industry.

The technology of the blockchain (the blockchain) to be able to organize a decentralized registry, or database, in which information is not stored on a single server and on multiple different computers. According to this technology, in particular, works database, which stores information about the operations of bitcoin. According to some experts, the technology allows to significantly optimize the costs of business and the state. In particular, it helps to make payments online, quickly confirm the relevance of the data on the client or the transaction, record the transaction and conduct their roster.

In China, the blockchain technology is already used in the financial sector, in the preparation of credit reporting, the management of value chains.

In China created the first zone for blockchain studies© Integratiebeleid and bitcoin