Kunming Launches Blockchain Driven Bidding Platform for Public Resources
The Yunnan province city of Kunming has developed China’s first blockchain-driven bidding platform for public resources.
The “Kunyilian” (昆易链) public resource transaction blockchain platform officially commenced operation in the city of Kunming on 23 June.
According to its developers Kunyilian is China’s first bidding platform that fully incorporates blockchain technology with public resource transactions.
Since the launch of internal testing the platform has already completed nearly 60,000 blockchain certificates for official data, and will subsequently encompass nearly 30,000 bid participants for Kunming’s public resources.
Beijing Zhulong (北京筑龙) provided technical services for the Kunyilian platform, which makes use of Tencent’s TBaaS system as its base-level blockchain technology.
The launch of Kunyilian arrives just as China steps up investment in “New Infrastructure,” which includes blockchain technology, in response to the economic impacts of the COVID-19 pandemic.
On 17 April a meeting convened by the Chinese Politburo called for “strengthening investment in traditional and new infrastructure,” with leading domestic analysts expecting infrastructure investment in China to reach between 22 – 26 trillion yuan in 2020.