Copy link
Increase text size
Decrease text size
Link copied

China upgrades national PPP information platform to use blockchain, AI and big data

Wed, 19 Feb 2020, 04:31 am UTC

China’s Ministry of Finance has announced that national information platform for public-private partnership (PPP) projects has been upgraded and is now online.

In a press release dated February 17, the ministry said that the upgrade was the result of two years of joint efforts. The objective was to “implement the reform requirements of "decentralized management services", improving the PPP project supervision, service and information disclosure capabilities, and promoting the high-quality development of PPP.”

With this upgrade, the platform now leverages cutting-edge technologies such as blockchain and artificial intelligence (AI).

“The new platform uses the latest information technology achievements such as blockchain, artificial intelligence, and big data to expand the platform architecture and functions, improve the degree of information verification and accuracy, enhance the ability of intelligent supervision and big data calculation and analysis, and facilitate information acquisition,” the ministry said.

The national information monitoring and service platform for PPP projects was launched in November 2019, Xinhua Net reported. The National Development and Reform Commission (NDRC) had said that around 7,000 were registered on the platform by early November with a total investment of about 9 trillion yuan (or $1.28 trillion approximately).

The ministry said that the upgraded platform will further drive the PPP field to use information technology to innovate working methods and improve work efficiency.

The announcement comes amid the coronavirus outbreak, which has claimed over 2,000 lives around the world. However, this does not seem to have deterred the country from advancing its blockchain efforts.

Just recently, Xuan Changneng, vice director of the State Administration of Foreign Exchange, revealed that 87 businesses have received over $200 million in loans through a blockchain-based cross-border payments pilot platform since the Lunar New Year holiday.

[The article has been written using an online translation of the press release in Chinese.]

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,213.86 (+6.34%)
  • Ethereum (ETH) $162.68 (+13.44%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $250.45 (+8.11%)
  • Bitcoin SV (BSV) $189.22 (+8.71%)
  • Bitcoin (BTC) $7,213.86 (+6.34%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.