NewsTechnology

IPFS interoperability is a selling point for Beijing City blockchain

In China, official support for enterprise blockchain is being given, while crypto mining is being targeted.

ChainMaker, an enterprise blockchain created with Beijing city government backing, has announced that it will become compatible with the InterPlanetary File System distributed file storage system.

ChainMaker detailed how the blockchain would link to IPFS on its WeChat account today in a blog post.

IPFS is a decentralized peer-to-peer data storage network. ChainMaker is a “controllable” blockchain software and hardware project led by Beijing’s municipal government.

ChainMaker is on track to become Beijing’s government blockchain, bringing data from disparate ministries and agencies together. State-owned companies, banks, and colleges are among the 27 members of a group that vowed to adopt blockchain technology into their operations.

In preparation for a pilot program for the 2022 Beijing Winter Olympics, the developers have inked a deal with the People’s Bank of China to incorporate the digital yuan across ChainMaker.

The National Development and Reform Commission, the Ministry of Science and Technology, the Digital Currency Research Institute of the central bank, the Ministry of Industry and Information Technology, the national tax and market watchdog, and a State Council commission oversee the 27-member consortium.

ChainMaker, or Chang’An Chain in Chinese, was published on January 27 by the Beijing-based research institute Beijing Academy of Blockchain and Edge Computing.

After being included in China‘s 2021-2025 Five-Year Plan, enterprise blockchain is rapidly gaining official backing, but crypto mining is facing a crackdown.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button