According to an official announcement of February 11, the Chinese government published bir Opinions of Financial Services on Rural Service Revitalization Çin. The new framework is part of the country's plan to increase the effectiveness of financial services for the rural revitalization program.
The guide will help to promote the implementation of new technologies in the rural financial sector, such as the blockchain, with the aim of teşvik identifying, monitoring, improving early warning and disposal levels of agricultural credit risks Kılavuz.
Guidance on Blockchain in Agriculture
Guiding Opinions are published jointly by the People's Bank of China, the Banking Regulation Commission, China Securities Regulatory Commission, the Ministry of Finance and the Ministry of Agriculture and Rural Affairs.
The implementation of Blockchain for agricultural financing facilitates the collection and sharing of agricultural data. Blockchain-based customer scanning is expected to improve the credit assessment model of agricultural holdings, while reducing the risk of lenders and increasing the number of loans granted.
The announcement also includes:
Ğ The financial institutions of new technologies “would encourage aya the development of special credit products and small payment solution functions for rural e-commerce and to open up a rural e-commerce capital chain.“
Various industries of China blockchain application printing is also expanding copyright protection services in media organizations. In December 2018, China's Financial Media Copyright Protection Alliance, consisting of more than 30 financial media organizations, announced that it would use blockchain technology to improve copyright collaboration in the industry.
In general, China is a world leader in the implementation of blockchain technology to various sectors. In 2017, China filed more patent applications for blockchain applications with the World Intellectual Property Organization (WIPO) than in other countries. More than half of the 406 patents presented to WIPO that year were from China.
Source: Cointelegraph