Briefing: China’s first blockchain-powered notary service opens in Beijing
Apr 23, 2019
What happened: China’s first blockchain-enabled notary has started offering services in the CITIC Notary Office in Beijing, and the first blockchain notary certificate was issued on Friday. The new blockchain notary service allows the certificate holder to verify the information by scanning a QR code on the document. The notary service expects is leveraging the distributed ledger technology to better prevent cases of forgery and fraud.
Why it’s important: Despite its heavy-handed approach to blockchain regulation, China has been eager to adopt the technology across industries. China is leading the world in the number of blockchain projects currently underway, accounting for 25% of the global total. Another analysis shows that China is one of the top blockchain patent filers despite its cryptocurrency ban. In Guangzhou, another hub for blockchain legislation in China, issued on Monday what is said to be the first blockchain and AI-powered business license in the country.