China to Use Blockchain for Real-Name Verification of 1.4 Billion People, Raises Data Privacy Concerns
China's national-level blockchain initiative, the Blockchain-based Service Network (BSN), has announced that it will use blockchain technology to verify the real-name identities of China's 1.4 billion people. The initiative, called RealDID, was spearheaded by China's Ministry of Public Security with the help of BSN. The RealDID service launch will enable users to register and log in to websites anonymously using DID addresses and private keys, ensuring that business data and transactions remain disconnected from personal information. This move is likely to spark concern among data-privacy advocates, especially as China's top social media platforms mandate content creators with over 500,000 or 1 million followers to publicly display their real names or those of their financial backers.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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