Shenzhen Municipal Government Plans to Use Blockchain for Data Property Rights Registration

02/20/2023 08:25 • Digital Disruptors • 116 views

It is reported that on February 20, the Shenzhen Municipal Development and Reform Commission publicly solicited opinions on the “Interim Measures for the Registration and Administration of Data Property Rights in Shenzhen” (draft for comments). The draft clearly states that the registration agency should use blockchain and other relevant technologies to store the registration information on the chain, and properly keep the original certificate of registration and relevant documents and data. The storage period shall not be less than 30 years. The registration authority and its staff have the obligation to keep confidential the data, documents and materials related to the data property registration business according to law.

Shenzhen Development and Reform Commission: The registration agency should use blockchain and other relevant technologies to store the data property registration information online

Analysis based on this information:

The Shenzhen Municipal Development and Reform Commission’s decision to use blockchain technology for the registration and administration of data property rights in the city is a significant step towards promoting transparency and security in the management of data. The draft for comments, which was publicly solicited on February 20, highlights the need to use blockchain and other relevant technologies to store the registration information on the chain for a period not less than 30 years. The registration agency and its staff are expected to keep confidential the data and documents related to data property registration business while complying with all relevant laws.

The use of blockchain technology in the registration of data property rights is an innovative approach that guarantees more reliable and tamper-proof information storage, which is necessary for businesses and individuals who seek legal protection for their data. This move is consistent with China’s overall strategy to promote the use of blockchain technology in various industries, including finance, healthcare, and governance systems. With the implementation of blockchain technology in the registration of data property rights, stakeholders can trust that their property rights are protected and that their data will be secure.

The decision to use blockchain technology in the registration of data property rights is a step in the right direction towards promoting transparency and security in the management of data. The implementation of this strategy will have positive implications for businesses and individuals, in terms of legal protection and compliance with relevant laws. It will also position Shenzhen as a leader in the use of blockchain technology, and other cities in China, and around the world, may follow its example.

Overall, this decision underscores the importance of blockchain technology in today’s technology-driven world, and how policymakers can leverage it to promote economic growth, while ensuring that citizens’ rights to privacy and data are protected. It is a promising move that will boost investor confidence, increase transparency in data management, and overall improve the business environment in Shenzhen.

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