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China’s cyberspace watchdog approves 309 more blockchain services

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The Cyberspace Administration of China, the country’s central Internet regulator, censor, oversight and control agency, has published its second list of registered blockchain service providers.

The new batch comprises 309 companies that are representatives of various industries, including cultural tourism, education, e-commerce, law, healthcare and supply chains, Chinese news outlet 8BTC reported on Oct. 21.

Traditional sectors embrace blockchain

Among the registered entities, for example, are services such as HiCloud and AliCloud — blockchain arms of tech corporations Huawei and Alibaba, respectively.

In addition, the list includes giants from the traditional sectors such as China Southern Airlines, which is developing its own blockchain platform, as well as representatives of the financial services industry like Industrial and Commercial Bank of China.

Per the report, many of the registered blockchain startups on the list are currently involved in public chains, crypto wallets and mining pools.

Alongside commercial enterprises, various government agencies were also included in the list. The State Administration of Foreign Exchange, for instance, is developing its cross-border business blockchain service platform, while the Hangzhou Internet Notary Office is listed thanks to its blockchain-based electronic evidence repository.

Regulation or censorship?

It is noted that the cyberspace watchdog’s “Regulation for Managing Blockchain Information Services” was first introduced in October 2018 and immediately caused heated debates among crypto and blockchain enthusiasts due to its censorship-like nature.

According to the regulation, Chinese blockchain service providers must verify their users’ real names via a national ID or phone number, as well as store and provide their clients’ data to authorities for inspection. Furthermore, companies are prohibited from using blockchain to “produce, duplicate, publish, or disseminate” any data that could be declared a threat to national security.

As Cointelegraph reported previously, the Chinese regulator’s first list of registered blockchain service providers included 197 companies and was published on March 30.

Source: https://cointelegraph.com/news/chinas-cyberspace-watchdog-approves-309-more-blockchain-services

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