Skip to main content

China's Chief Justice Gets Blockchain Briefing in Trip to Guiyang Courts

Zhou Qiang, China's chief justice, received a briefing on blockchain technology last week during an inspection of the city of Guiyang in southwestern China.
According to domestic media reports, Qiang spoke to local court representatives on projects related to big data and blockchain, a notable development given that he is leading a drive to digitize China's court system and reduce difficulties inherent in the enforcement of court decisions.
Among the topics reportedly discussed was a national credit system and asset registry, and how the lack of such a system can create issues when a plaintiff asks a court to enforce its decision in civil lawsuits.
Zhou, who is also president of the Supreme People's Court, reportedly commented:
"Under the leadership of the party, we should beef up the use of information technology, and constantly improve the workflow of the national court system to overcome the difficulties in the enforcement of court decisions."
Because the court doesn't know how much of which assets the defendant owns and where the assets are, the investigation process places a huge burden on China’s court system, the article explains.
To combat the issue, Guiyang's court system is partnering with other municipal agencies in applying big data and blockchain tech to build a social credit system. Launched and supported by Chen Gang, the former secretary of municipal party committee, the campaign puts Guiyang in a leading position among municipal governments in adopting blockchain in governance in China.
Last December, Guiyang released a white paper detailing its blockchain research efforts, making it the first municipal government in China to do so.

Comments

Popular posts from this blog

Case-By-Case or Cease-and-Desist? In Search Of a New Approach to ICOs

That rumble you hear is the sound of regulators around the world mobilizing resources to tackle the pressing matter of token sales. Yet, in spite of the spectacular growth of blockchain token-based funding, no one seems to have a clear idea of what type of rules to introduce. The resulting uncertainty (not to mention ridicule) is left hindering progress as money flows to unviable projects and investors are left vulnerable to foul play – exactly what regulation is supposed to prevent. Perhaps a new approach is needed. But to see where this could go, it's worth stepping back and asking what we expect the regulation to do. Safety belt First, why do we need regulation, not just of finance, but of anything at all? To protect us. At its roots, that is the main role of government – to protect its citizens from avoidable harm and extreme loss brought about by others or from our own lack of common sense. When it comes to securities, that usually means stopping us from making poor decisions…

Frequently asked questions about Bitcoin

What is Bitcoin? Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping systemin existence. Who created Bitcoin? Bitcoin is the first implementation of a concept called crypto-currency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers w…

Is Bitcoin Legal?

Bitcoin is of interest to law enforcement agencies, tax authorities, and legal regulators, all of which are trying to understand how the cryptocurrency fits into existing frameworks. The legality of your bitcoin activities will depend on who you are, where you live, and what you are doing with it. Bitcoin has proven to be a contentious issue for regulators and law enforcers, both of which have targeted the digital currency in an attempt to control its use. We are still early on in the game, and many legal authorities are still struggling to understand the cryptocurrency, let alone make laws around it. Amid all this uncertainty, one question stands out: is bitcoin legal? The answer is, yes, depending on what you’re doing with it. Read on for our guide to the complex legal landscape surrounding bitcoin. Most of the discussion concerns the US, where many of the legal dramas are currently playing out. Alternatively, you can access our comprehensive Regulation Report for worldwide expert …