A Chinese province has used blockchain tech to manage 21 regional prisons. Officials in Zhejiang randomly selected 20 state-owned companies to check for crypto mining activities. Yunnan energy bureau claimed mission accomplished for its mining crackdown.
The world of blockchain moves fast, and nowhere does it move faster than China. Here’s what you need to know about China’s block-world in the week of Dec. 8 to Dec. 14.
Blockchain in prisons
Chinese media reported on Dec. 10 that 21 prisons in eastern Jiangsu province had successfully passed the Ministry of Justice’s “smart prison” review process. The system is the country’s first attempt to use blockchain technology in managing its prison system. The province aims to set up an integrated online platform to manage the region’s prisons, incorporating more than 800 functions and 1,200 procedures to streamline the assessment of prisoners, administrative rewards and punishments, commutation of sentences, and parole. (Xinhua Daily, in Chinese)
Mining crackdown progress report
- Officials in eastern Zhejiang province formed an inspection group to spot-check state-owned enterprises in the jurisdiction for crypto mining activities. The group, made up of staff from Zhejiang Provincial Commission for Discipline Inspection and the province’s Cyberspace Administration, investigated 20 state-owned companies and 36 IP addresses with no advance notice. The investigation found a number of companies were using public resources to mine and trade virtual currencies, violating Chinese rules and regulations. The official didn’t reveal numbers for the companies involved. (China Star Market, in Chinese)
- The Energy Bureau of southwestern Yunnan province announced that the province has stopped all hydropower stations providing energy to “illegal” bitcoin mining. As of September, the province found 246 small and medium-sized hydropower stations were supplying power to mining companies after three rounds of investigation. The Bureau said all power supply to mining companies had been suspended, and most of the mining machines and factories had been dismantled. The official said the clean-up campaign saved about 2 billion kilowatt-hours of electricity a year. (Jiemian, in Chinese)
Virtual wallet frauds
Chinese cybersecurity company Qihoo 360 has launched software that it claims will block “virtual wallet fraud models” to prevent people from losing money in virtual asset frauds. The software will block activities or platforms that induce users to install fake virtual wallets, including fake virtual wallet websites and fake cryptocurrency exchanges. (Lieyun, in Chinese)