Trusted Blockchain Promotion Plan establishes a Data Trusted Circulation Project Team in China

According to reports, on March 29, the 11th plenary meeting of the Trusted Blockchain Promotion Plan (TBI) of the China Academy of Communications was held in Hangzhou. At the meeting, China Power Great Wall Internet System Application Co., Ltd., Guiyang Big Data Exchange, and Ant Chain led the establishment of a data trusted circulation project team to explore fusion technologies, application systems, and typical scenarios for data element circulation, and establish relevant standards and technical specifications for data trusted circulation.

The first special research team established by TBI of the ICT Academy to build a blockchain based data trusted collaborative application system

The rapid digitization of information has revolutionized the way businesses operate. Data has become the new oil, and its effective circulation and management are critical for the success of any organization. However, the highly fragmented data landscape has created challenges for enterprises, and the need for data trust has grown significantly. According to reports, on March 29, the 11th plenary meeting of the Trusted Blockchain Promotion Plan (TBI) of the China Academy of Communications was held in Hangzhou. At the meeting, China Power Great Wall Internet System Application Co., Ltd., Guiyang Big Data Exchange, and Ant Chain led the establishment of a data trusted circulation project team to explore fusion technologies, application systems, and typical scenarios for data element circulation, and establish relevant standards and technical specifications for data trusted circulation.

Understanding Trusted Blockchain Promotion Plan

The Trusted Blockchain Promotion Plan (TBI) is a research and development initiative of the China Academy of Communications that aims to explore and promote the application of blockchain technology in various industries. Its primary objective is to strengthen the development of the blockchain industry in China and support the country’s digital transformation initiatives. The TBI has played a pivotal role in establishing technological standards and regulations for blockchain development and has enabled the collaboration of various stakeholders, including government organizations, research institutions, and industry players.

Data Trusted Circulation Project Team

The Data Trusted Circulation Project Team’s establishment is a significant milestone in the TBI’s journey. The team comprises experts and professionals from various institutions, including China Power Great Wall Internet System Application Co., Ltd., Guiyang Big Data Exchange, and Ant Chain. The team will focus on exploring innovative fusion technologies and application systems that promote effective management and trust of data. They will also define comprehensive standards and technical specifications for data trusted circulation, creating a reliable and well-structured data ecosystem. This initiative is crucial for promoting the adoption of blockchain technology and enabling the Chinese businesses to operate in a more secure and trustworthy environment.

Fusion Technologies for Data Circulation

The team’s primary goal is to identify fusion technologies that will enable effective data circulation. The technologies should enable interoperability between various data sources and offer reliable mechanisms for securing data. These technologies should leverage blockchain’s key features, including immutability, transparency, and decentralization. The team will leverage their technical expertise to develop innovative solutions that will enable secure data access and trusted data sharing.

Application Systems for Data Circulation

The project team will also focus on developing application systems that support data circulation. These systems should cater to various use cases, including supply chain management, fraud detection, and digital identities. The application systems should provide a seamless user experience and ensure that data is readily available and accessible to authorized parties. The team will leverage industry best practices to develop robust and scalable solutions that meet the growing demand for data trust.

Typical Scenarios for Data Element Circulation

The project team will analyze typical scenarios for data element circulation and recommend the best practices for managing data elements. These scenarios will include various data types, including personal identifiable information, financial data, and social media data. The team will analyze the challenges associated with data trust for each scenario and recommend effective solutions that promote trust and security.

Relevant Standards and Technical Specifications for Data Trusted Circulation

The team will define comprehensive standards and technical specifications that will guide the development and adoption of data trusted circulation solutions. These standards will include data privacy, data integrity, and data management standards. The technical specifications will cover various aspects of data circulation, including data access, data sharing, and data storage. The standards and technical specifications will ensure that the data trusted circulation solutions comply with industry best practices and meet the regulatory requirements.

Conclusion

The establishment of the Data Trusted Circulation Project Team is a significant milestone in promoting the adoption of blockchain technology and enabling secure and trustworthy data circulation in China. The team’s focus on exploring fusion technologies, application systems, and typical scenarios for data circulation, and defining relevant standards and technical specifications is crucial in building a reliable and secure data ecosystem. As China continues to digitize rapidly, the need for data trust will continue to grow, and the TBI’s efforts will catalyze the development of innovative solutions to meet this demand.

FAQs

#Q: What is the Trusted Blockchain Promotion Plan?

A: The Trusted Blockchain Promotion Plan (TBI) is a research and development initiative of the China Academy of Communications that aims to explore and promote the application of blockchain technology in various industries.

#Q: Why is the Data Trusted Circulation Project Team important?

A: The Data Trusted Circulation Project Team is essential in promoting the adoption of blockchain technology and enabling secure and trustworthy data circulation in China.

#Q: What will the Data Trusted Circulation Project Team focus on?

A: The team will focus on exploring innovative fusion technologies, application systems, typical scenarios for data circulation, and define relevant standards and technical specifications for data trusted circulation.