Chinese multinational technology company Huawei Technologies Co., Ltd has developed a joint blockchain network with the Beijing authorities for use in city governance.
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According to a local news outlet People’s Daily, the network is still under development and the main goal is to enhance public services and support the city's business environment.
Last year, Beijing and Huawei also created a system based on distributed ledger technology to connect the city's 50 municipal departments and support inter-agency big data sharing and management.
The Beijing government claims citizens are already ready to use the functionality of the new infrastructure. The blockchain system also has support for real-time data management, rights management and feedback.
Previously, iHodl reported that backed by China the Blockchain Service Network (BSN) project will start working with stablecoins in 2021.
According to Yifan He, Head of Red Date Technology the stablecoins will reportedly be used to pay for various services in the BSN ecosystem, including cloud resources.
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