China’s military is planning to implement blockchain-a system of rewards for management staff and encourage warriors on 18 November reported Global Times.
Referring to the press service of the people’s liberation army, People’s Liberation Army (PLA), Global Times emphasizes that the blockchain system does not provide financial incentives, but will be used as an innovative strategy of management by the military.
The report said that the PLA is interested in using a holistic and secure blockchain-based system for data management staff; this will include recording on the military training, career path, missions conducted and reports on the results of activities.
By design, the system will contain the tokens, the reward within the system that soldiers can exchange for non-monetary incentives. Tokens will serve as “objective assessments”, – is spoken in the PLA Daily.
Citing an anonymous source, Global Times, said that the main difference between the proposed blockchain system and the systems of rewards that exist now may not be the only security that the blockchain provides, but most immediacy:
“It’s like a system of KPI, providing feedback with the military very often”
– stated in the message. It remains to understand what rewards can be purchased with tokens.
Those who are monitoring China’s progress in the field of data Analytics and behavior monitoring will probably remember their notorious system of social credit, which is being developed since 2007.
Last week, the official Chinese state news Agency Xinhua has published an extensive and detailed positive report on the recognition of bitcoin “the first successful application of blockchain technology”.
Although state media continued to broadcast warnings about speculation associated with cryptocurrency trading, the country, however, is trying to reduce its pressure to such activities as mining bitcoin.
Meanwhile, recently the President of China expressed eloquent statements affirming the blockchain innovation, accompanied by the signing of the first national law regulating cryptocurrencies, the various aspects of the blockchain. The law should come into force in January next year.
Meanwhile, the people’s Bank of China (PBoC), in an effort to bring the country into the front ranks of innovation in the global economy, is developing a digital currency that will control.
Regardless of whether digital currency PBoC based on the blockchain and compatible with other blockchains or not is a hot topic of discussion and debate within the industry.