Chinese Experts suggest using Blockchain Tech in ‘Social Credit’ System

Chinese Experts suggest using Blockchain Tech in ‘Social Credit’ System

Chinese technology experts held a seminar titled “Blockchain technology helps China’s new social credit system” on Jan. 14. English-language news outlet China.org.cn reported on Jan. 22 that over 20 experts from universities, research institutes and businesses attended the event. China’s social credit system is a citizen reputation system that the Chinese government is currently developing. Social credit regional trials began in 2009, while a national pilot started in 2014. Four years after the national pilot began, the efforts were centralized under the purview of the country’s central bank, the People’s Bank of China.