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<p class="is-style-lead">The Chinese Ministry of Public Security is set to launch RealDID, a blockchain-based platform aiming to authenticate the real-name identities of citizens.&nbsp;</p> 
<p>Developed in collaboration with the Chinese government, the project spans diverse applications, encompassing personal real name confirmation, encrypted protection and certification of personal data, private logins, business identities, personal identification certificate services, and information vouchers on personal identity.</p> 
<p> You might also like: <a href="https://crypto.news/china-nears-end-of-its-multi-year-cbdc-pilot-ex-pboc-governor-says/"> China nears end of its multi-year CBDC pilot, ex-PBoC governor says </a> </p> 
<h2 class="wp-block-heading" id="a-diverse-range-of-applications">A diverse range of applications&nbsp;</h2> 
<p>Highlighted during a&nbsp;<a href="https://mp.weixin.qq.com/s?__biz=MzI3MzU0NTY0OA==&amp;mid=2247505468&amp;idx=1&amp;sn=7ee52697474d2d38233efa56e0e36603&amp;chksm=eb2336e3dc54bff55c1c0021aed8f17eeda4acbc5a7f58cc1b3b74e918946362428cfc7e442c&amp;token=1602819206&amp;lang=zh_CN#rd" target="_blank" rel="noreferrer noopener">press release for a Dec. 12 event</a>&nbsp;hosted by the Blockchain Service Network (BSN), a Chinese blockchain company, brought together experts in the field of distributed technology to focus on the development direction and application scenarios of the digital identity authentication system to promote multi-agency business collaboration and data circulation on the chain.</p> 
<p>Along with it came the announcement that soon, Chinese citizens will be able to register and access online portals anonymously through decentralized identity (DID) addresses using the application, ensuring the privacy of transactions and data exchanges between individuals and businesses.&nbsp;</p> 
<p>A rollout date for these services was not disclosed in the release.</p> 
<h2 class="wp-block-heading" id="technological-developments">Technological developments</h2> 
<p>China has continued to produce reports of its advancing initiatives and regulations in emerging technologies, particularly in developing central bank digital currencies (CBDCs). Zhou Xiaochuan, the former governor of the People’s Bank of China, stated that the country is nearing the conclusion of its multi-year digital yuan pilot, emphasizing that the final stage is not far away.&nbsp;</p> 
<p>According to a report from the South China Morning Post, Xiaochuan highlighted in a conference speech in Hong Kong that China has already achieved digitalization in up to 90% of&nbsp;<a href="https://crypto.news/china-nears-end-of-its-multi-year-cbdc-pilot-ex-pboc-governor-says/" target="_blank" rel="noreferrer noopener">retail payments</a>.</p> 
<p> Read more: <a href="https://crypto.news/standard-chartered-china-provides-digital-yuan-exchange-services/"> Standard Chartered China provides digital yuan exchange services </a> </p>

China proposes blockchain-powered identity verification

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