MIIT conducted a research on GAChain on April 17
In order to promote the innovation and application of blockchain technology and guide the development of industry health standards, Information center of MIIT (Ministry of Industry and Information Technology of the People’s Republic of China) recently has organized the writing of the “white paper on China’s blockchain industry in 2018” to make in-depth analysis of the development situation, characteristics and development trend of China’s blockchain industry.
April 17, 2018, in order to know the detail of block chain industry and application situation, Yu Jianing — Director of Industrial Economy Institute of MIIT , led a team to conduct a research in Shenzhen GAChain Technology Co., LTD. (Referred to as “GAChain Tech”). The research team aims to collect typical application cases and understand the problems and suggestions of industrial development.
▲Dr.Yu Jianing
▲Research conference
Mr. Wan Lin (CEO of GAChain Tech), Mr. Liu Yi (deputy general manager) and several core members of the company attended the research conference. Firstly, Wan Lin and Liu YI introduced GAChain, a new layer protocol of blockchain developed by GAChain Tech, and the technical development details of GAChain in recent years.
GAChain is the first blockchain platform to create a sovereign ecological environment, it takes “blockchain as government affairs” service as a goal, and is in the service of government agencies, enterprises, institutions and citizens. Therefore, GAChain has the ability to project implementation to provide a more friendly, convenient, fast, flexible, and secure environment.
▲Wan Lin, CEO of Shenzhen GAChain Technology Co., LTD
Compared with the traditional blockchain, GAChain has many breakthrough technical advantages:
Sovereign hierarchical management — decentralized business processing, centralized management, and consistent with the current actual business scenario;
Data sharing is encrypted and controllable — real control of business and data, perfectly in line with the national data sharing consensus system;
Smart transaction processing mechanism — multi-node concurrent processing, automatic execution, flexible configuration of transactions, far beyond the capacity of smart contracts;
Transaction processing with zero consumption — no token is required, conform to the real scenario of the average user.
Mr. Wan Lin and Mr. Liu Yi detailed how GAChain applied in government affairs, business, financial transactions, supervision, supply chain, tax audit, identity certification, intelligent transportation and other fields.
In addition, the technicians of GAChain Tech demonstrated the interface operation of identity authentication technology and intelligent transportation and reported the basic progress of the underlying technology.
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GAChain is the underlying technology of blockchain with Chinese socialist characteristics and in line with China’s national conditions. It is truly China’s original block chain technology.
GAChain is a new technology for data storage and interaction, it’s emphasis is not to replace other technologies but making a smooth integration into the original technology system, and creating a more efficient, convenient and trustworthy mechanism.
GAChain takes the responsibility of helping enterprises to better complete their own business. At the same time, it can achieve efficient data latching at a confidential and reasonable level, and establish an ecosystem of data consensus, sharing, and security.
Dr. Yu Jianing put forward some valuable policy guidance after a preliminary understanding of GAChain. He said that there are a lot of companies doing blockchain in China now, but most of them stay at the application level. However, few companies can really do the technology of the bottom blockchain reliably. It is commendable and encouraging that GAChain Tech can firmly do the bottom line technology, and it has made a great breakthrough in the technology of the bottom blockchain.
GAChain will keep doing more efforts to actively promote technology updating, building an international level blockchain belonging to China, and join in the combination of the blockchain and the development of the country with a sense of social responsibility.