Guangzhou Leads Ten Chinese Cities in Development of Blockchain Transaction Platform for Public Resources

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The Guangdong-province capital of Guangzhou has led the development of a new blockchain-based platform for “public resource transactions” with group of major Chinese cities.

On 16 December the Guangzhou Public Resource Transaction Center executed the “Public Resource Transaction Blockchain Platform Sharing Application Cooperative Agreement” (公共资源交易区块链平台共享应用合作协议) with the public resource transaction centers of nine other cities, including Beijing, Zhuhai, Wuhan, Changsha, Nanjing, Hangzhou, Xiamen, Foshan and Dongguan.

According to a report from the Guangzhou Daily the Guangzhou Transaction Center has already completed the establishment of the first blockchain-based platform for public resource transactions, after commencing development in cooperation with the transaction centers for Beijing and Zhuhai in August of this year.

The platform makes use of a “blockchain + public resource transactions + finance” services model, while the Guangzhou Transaction Center says it has also adopted other technologies including big data, cloud computing and artificial intelligence to achieve “smart transactions” and “smart management.”

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