The Ministry of Public Security in China is gearing up to introduce a cutting-edge blockchain-based identity verification system, RealDID, designed to enhance the security of personal data and identity credentials.
A recent press release from the Blockchain-based Service Network (BSN), a prominent Chinese blockchain company, revealed that in collaboration with the Chinese government, the RealDID platform will offer a variety of applications. These include secure real-name verification, encryption of personal data, private logins, business identity verification, personal identification certificate services, and secure vouchers for personal identity information.
The system will enable citizens to register and access online services using DID addresses, allowing for private and secure interactions and transactions between individuals and entities.
Although no specific timeline for the nationwide rollout to China’s vast population of 1.4 billion has been announced, the initiative is seen as having “huge potential” in safeguarding individual privacy.
Operated by China’s National Information Center, BSN has connections with major Chinese technology corporations like China Mobile and China UnionPay.
This development follows the recent requirement for prominent social media influencers on platforms, including WeChat, to publicly disclose their real names and financial sponsors.
China’s push in this direction is part of a broader strategy to advance its technological capabilities, focusing on artificial intelligence, central bank digital currencies (CBDCs), and cryptocurrency development. Additionally, the country is striving to reduce its reliance on U.S.-manufactured semiconductor chips by increasing local production.