{"id":9876,"date":"2023-08-23T14:05:21","date_gmt":"2023-08-23T18:05:21","guid":{"rendered":"http:\/\/leadingcryptonews.com\/china-launches-blockchain-powered-data-exchange\/"},"modified":"2023-08-23T14:05:21","modified_gmt":"2023-08-23T18:05:21","slug":"china-launches-blockchain-powered-data-exchange","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/china-launches-blockchain-powered-data-exchange\/","title":{"rendered":"China launches blockchain-powered data exchange"},"content":{"rendered":"<p> <br \/>\n<br \/><noscript><img decoding=\"async\" class=\"lazyload\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-08\/4979426f-2c73-4024-bdb3-08151efff60d.jpg\" \/><\/noscript><\/p>\n<div data-v-2649fa34=\"\">\n<p>During the 2023 Hangzhou Summit held in Hangzhou, China, government officials unveiled a new data exchange powered by blockchain technology. Over 300 enterprises, including Alibaba Cloud and Huawei, participated in the exchange\u2019s debut.<\/p>\n<p>According to local news reports from Aug. 23, the new Hangzhou Data Exchange will facilitate the trading of enterprise information technology data using distributed ledger technology. Officials said the platform would ensure exchange trades are immutable and traceable. Chen Chun, director of the National Laboratory of Blockchain and Data Security, commented:\u00a0<\/p>\n<blockquote><p>\u201c[The Hangzhou Data Exchange] utilizes research blockchain, privacy computing and other technologies to realize trusted sharing and effective use of data across departments and regions under data security and privacy protection.\u201d<\/p><\/blockquote>\n<p>In 2022, Hangzhou\u2019s digital economy sector surpassed 500 billion Chinese yuan ($69 billion), accounting for nearly 27% of the city\u2019s gross domestic product.<\/p>\n<p>Despite cracking down harshly on private blockchain enterprises for much of the year, China is a staunch supporter of government-controlled blockchain efforts.\u00a0<\/p>\n<p>During the initial opening of the 2023 Shanghai Cooperation Organisation (SCO) Conference, Chinese President Xi Jinping said that central bank digital currencies (CBDCs)\u00a0played an important role in \u201cexpanding the share of local currency settlements of SCO countries.\u201d Recently, over 100 million yuan ($13.8 million) worth of the digital yuan CBDC was airdropped to Chinese residents to stimulate domestic spending.\u00a0<\/p>\n<p>That said, not all initiatives have gone well. On Dec. 28, 2022, Cointelegraph reported that the country was supposedly in the final stages of launching its national nonfungible token exchange, CDEX. The platform remains under development at the time of publication.\u00a0<\/p>\n<p><strong>Magazine:\u00a0Real reason for China\u2019s war on crypto, 3AC judge\u2019s embarrassing mistake<\/strong><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/china-launches-blockchain-powered-data-exchange\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>During the 2023 Hangzhou Summit held in Hangzhou, China, government officials unveiled a new data exchange powered by blockchain technology. Over 300 enterprises, including Alibaba Cloud and Huawei, participated in the exchange\u2019s debut. According to local news reports from Aug. 23, the new Hangzhou Data Exchange will facilitate the trading of enterprise information technology data [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9877,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-9876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China launches blockchain-powered data exchange - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/china-launches-blockchain-powered-data-exchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China launches blockchain-powered data exchange\" \/>\n<meta property=\"og:description\" content=\"During the 2023 Hangzhou Summit held in Hangzhou, China, government officials unveiled a new data exchange powered by blockchain technology. Over 300 enterprises, including Alibaba Cloud and Huawei, participated in the exchange\u2019s debut. 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