Guangdong Province Applies Blockchain Technology to Enterprise Social Credit

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The Guangdong province city of Foshan is applying blockchain technology to the development of a new enterprise social credit platform.

The Foshan municipal government last week announced the official launch of its new “Blockchain + Public Credit Information Shared Services Platform” (区块链+公共信用信息共享服务平台) following the completion of internal testing.

Also billed as the “Blockchain + Credit Chan City” (区块链+信用禅城), the platform employs big data technology to provide credit risk assessments of enterprises based on 70 data labels, creating a comprehensive credit picture of more than 200,000 businesses in the region and assign them credit ratings of A, B, C or D.