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China Blockchain Technology

China Blockchain

China Blockchain

China pins hopes on blockchain technology for government audits.

The National Audit of the People’s Republic of China(PRC), the nation’s supreme audit institution, is pinning high expectations on blockchain technology as a way to improve government auditing functions, according to a announcement posted April 24.

The article offers an diagram about blockchain technology, noting that its features decentralized computing and time stamping services, for example recognizing textual information based on time sequence and the permanent saving of data.

China Blockchain Technology

An article titled “Some Ideas on Applying ‘Blockchain’ Technology in Big Data” notes that the blockchain portion of the share trading market has increased 19.95% for eight straight days this year, reflecting blockchain application capability.
The technology, according to the article, can enhance the data storage, management, transmission and other work modes for data audits.

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