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

Post a Comment

Popular posts from this blog

Duncan Logan just tweeted that he's on board Electroneum

I have been a buyer and holder of bitcoin and Etherreum for a long time but this will be the first ICO I buy into--Duncan Logan.

What is Electroneum?

Electroneum (ETN) is a cryptocurrency that can be mined with a smartphone, requiring almost no technical knowledge or prior experience. This sets it apart from other cryptocurrencies (like Bitcoin) which require expensive hardware and technical know-how to mine.
Electroneum’s unique mobile mining experience allows anyone with a smartphone to earn ETN coins by letting the miner app run in the background.
It was designed specifically with mobile users in mind, thereby appealing to a potential market of 2.2 billion smartphone users around the world. Unlike other cryptocurrencies, Electroneum has a user-friendly, beginner-oriented interface that allows users to seamlessly transfer ETN coins between one another, check their balances, and mine coins.
Being a cryptocurrency, Electroneum is created, held, and spent electronically, and has no phy…
Post a Comment
Read more

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 …
Post a Comment
Read more

Police Bust Alleged $13 Million Crypto Pyramid Scheme

Police in China's northwestern city of Xi'An have arrested the founders of a claimed nationwide cryptocurrency pyramid scheme that allegedly amassed 86 million yuan ($13 million) from over 13,000 people.
According to a report from local media source Huashang News, Wednesday, the scheme launched in March 28 this year after months in preparation by a primary suspect who has has the surname Zheng, as well as three other accomplices.
The report cited an investigation from the police who said the scheme used a cryptocurrency called Da Tang Coin (DTC) that is linked to DTC Holding - a firm under the suspect's control and registered in Hong Kong - to allegedly hoax potential members of the pyramid scheme.
In various promotional events in multiple cities in the country, the scheme claimed that new members can make 80,000 yuan (roughly $13,000) per day with an initial investment of $480,000 to purchase the DBTC at $0.50 per token, according to the report.
These promises of high r…
Post a Comment
Read more