Changan Chain Supports the Development of the Beijing Core Node for National Data Circulation Infrastructure

Currency Circle Network reports:
On July 5th, China Daily (Reporter Zhao Lei) reported that the independently developed blockchain software and hardware technology system Chang’an Chain in our country will support the core node for building the national data circulation infrastructure in Beijing, promoting the higher-quality circulation and value-added of data elements while ensuring privacy and security. At the 2024 Global Digital Economy Summit Data Element High-level Forum held on July 4th, Chang’an Chain · Data Circulation Utilization and Value-added Collaboration Network officially announced the start of construction. Under the guidance of the Beijing Municipal Administration of Government Services and Data Management, this collaboration network utilizes high-performance Chang’an Chain and privacy computing technology to provide key support capabilities for secure transmission, trusted collaboration, and closed-loop incentives for the circulation and application of data elements.
Beijing, as the political and technological innovation center of our country, has accumulated a large amount of data in areas such as social management, public services, scientific research innovation, and business services, forming a leading domestic market for data elements. According to statistics, in 2023, Beijing’s digital economy achieved an added value of 1.87667 trillion yuan, an 8.5% increase from the previous year, accounting for 42.9% of the regional GDP. According to the plan, by 2030, the scale of Beijing’s data element market will reach 200 billion yuan. Therefore, with a solid foundation and strong drive, breaking data silos and promoting better circulation, application, and value-added of data in Beijing is not only feasible but imperative.
The Chang’an Chain · Data Circulation Utilization and Value-added Collaboration Network is jointly constructed by more than ten scientific research units and leading domestic information technology companies such as Beijing Weixin Blockchain and Edge Computing Research Institute and Capital Information Development Co., Ltd. This network aims to achieve the goal of building the core node of the national data circulation infrastructure in Beijing, creating a blockchain and privacy computing power platform, a distributed data circulation platform, a co-built and shared data resource network, and forming an open data ecosystem alliance to empower important industries and key areas of the national economy and social development such as finance, telecommunications, energy, and healthcare.
In this process, the high-performance Chang’an Chain, integrating privacy computing, will play a fundamental role. The chief developer explained that once data is accessed to the Chang’an Chain in the collaboration network, it undergoes distributed storage, ensuring a fully trustworthy and tamper-proof circulation process. By employing privacy computing technology for encryption, the original data remains “usable but invisible” throughout, ensuring the privacy and security of the data owners. Moreover, through cross-chain mechanisms, the collaboration network achieves deep cooperation with various data circulation and utilization platforms, sharing data resource directory information to facilitate cross-platform, cross-industry, and cross-regional data circulation and utilization, thereby bridging data silos. Additionally, by utilizing Chang’an Chain smart contracts to achieve end-to-end transparency and measurability of data, the profits obtained from data circulation and utilization services are automatically and efficiently shared among contributors according to agreed rules, significantly boosting the enthusiasm of data providers.
Chang’an Chain is China’s first independently controllable blockchain software and hardware technology system, led by Weixin Research Institute, with globally leading performance. Since its release in 2021, Chang’an Chain has been continuously applied in a wide range of important national economic industries and key areas such as national tax services, trusted digital identity systems, government services, and supply chain finance, empowering the high-quality development of the country’s digital economy.
Source: China Daily Website