China Launches Blockchain-Based Verification for 1.4 Billion Citizens

China's national-level blockchain initiative, the Blockchain-based Service Network (BSN), has announced plans to utilize blockchain technology for the verification of the real-name identities of its 1.4 billion citizens.

According to the Dec. 12 report from the Business Insider, China's Ministry of Public Security is leading the initiative, known as RealDID, to introduce the first national-level decentralized identity system.

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RealDID: Anonymity and Security in Identity Verification

The RealDID service launch will revolutionize user authentication by enabling individuals to register and log in to websites anonymously using Decentralized Identity (DID) addresses and private keys. This innovative approach ensures that business data and transactions remain detached from personal information, addressing concerns about privacy and security in identity verification.

China's top six social media platforms, including heavyweights such as WeChat, Sina Weibo, Douyin, Kuaishou, Bilibili, and Xiaohongshu, have recently mandated content creators with significant followings to disclose their real names or the names of their financial backers.

This move, aimed at enhancing credibility and enabling greater public supervision over online content, is expected to benefit from the implementation of RealDID.

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BSN's Oversight and Global Operations

BSN China, operated by China’s National Information Center in collaboration with tech giants China Mobile and China UnionPay, manages domestic operations. Simultaneously, BSN Global operates as a separate entity overseeing international operations, complete with its own security measures.

The implementation of RealDID represents the world’s first national-level real-name decentralized identity system, marking a significant milestone in the global blockchain landscape.

While US lawmakers recently introduced a bill to restrict federal government officials from transacting with China-based blockchain firms, China's Institute of Forensic Science, under the Ministry of Public Security, has been removed from the US trade sanctions list.