Copy link
Increase text size
Decrease text size
Link copied

Chinese military’s official newspaper publishes article on potential blockchain use in PLA’s operations

Mon, 18 Nov 2019, 09:10 am UTC

Following the endorsement of blockchain technology by Chinese President Xi Jinping, the country has been ramping up efforts to introduce the technology in multiple sectors to improve the efficiency of processes.

The People's Liberation Army (PLA) Daily, the official newspaper of the Chinese People's Liberation Army (PLA) said that blockchain technology could boost the management of the country’s armed forces, Global Times reported.

The military could implement the innovative tech in a number of areas, the report said. This includes personnel data management and boosting training and mission performances. The PLA could also adopt the technology to provide soldiers with earned tokens, which they can use for collecting rewards. Experts believe this could give more immediate incentives to military personnel than the previous reward systems.

By recording data on military training, professional skills and assigned missions on a blockchain, a soldier’s performance could be easily evaluated. Then, they could be rewarded with additional tokens for good performance or face a deduction of tokens in case of bad performance.

Such a token system could help facilitate objective evaluations of troops and encourage them for better performances, the report said.

An expert familiar with the administrative work in the PLA told Global Times that he expects the token would not be allowed to circulate as money and can only be used to exchange for rewards if the blockchain-based system is implemented.

Earlier this month, reports suggested that China has launched a blockchain-based identification system as part of smart city infrastructure. In a report, market intelligence firm IDC estimated the country to invest a staggering $2 billion on blockchain initiatives by 2023.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $11,728.20 (+4.58%)
  • Ethereum (ETH) $400.94 (+2.67%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $294.10 (+1.90%)
  • Bitcoin SV (BSV) $234.05 (+3.86%)
  • Bitcoin (BTC) $11,728.20 (+4.58%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
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.
PUBLISHsoft