China Launches Digital Property Chain Platform in Landmark Conference

02/22/2023 13:27 • Blockchain Briefs • 128 views

It is reported that on February 22, the first China Digital Property Rights Innovation Conference hosted by the China Association of State-owned Property Rights Trading Institutions (hereinafter referred to as the China Property Rights Association) was successfully held in Chengdu. At this conference, the country’s first digital property blockchain platform – “digital property chain” was officially launched. On the same day, the conference also released the White Paper on the Digital Property Chain, which elaborated the concept of digital property, the design of digital property chain, and the innovation achievements of digital property. (China Securities News)

The first digital property chain platform in China was launched in Chengdu

Analysis based on this information:

The China Association of State-owned Property Rights Trading Institutions held the first China Digital Property Rights Innovation Conference in Chengdu on February 22, announcing the official launch of the country’s first digital property blockchain platform – “digital property chain.” Accompanying this announcement was the release of the White Paper on the Digital Property Chain, which details the concept of digital property, the digital property chain’s design, and the innovation achievements of digital property.

The conference marked a significant moment for China as it steps forward in the rising popularity of blockchain-based property rights management. The “digital property chain” is set to enable businesses and individuals to conduct transactions and transfer ownership rights via digital signatures, reducing the reliance on paper certificates and providing a tamper-proof and transparent solution.

The White Paper explains that digital property is meant to represent ownership rights over physical and non-physical assets, such as real estate, intellectual property, and e-commerce commodities. Digital property, according to the platform, is authenticated by blockchain technology, which enables transparency, immutability, and traceability, contributing to the secure and scalable platform.

The digital property chain also integrates artificial intelligence and the Internet of Things, ensuring that all stakeholders involved in the process have access to relevant information and providing increased support for smart contract execution.

The Conference’s host, the China Property Rights Association, aims to promote the country’s digital property movement and provide a mechanism to address the issue of property rights, which has been a challenge in China for a long time. The platform aims to reduce the risk of fraudulent activities involved in property transactions, lower transactional costs and increase the efficiency of monitoring, supervision, and management.

In conclusion, the digital property chain platform’s launch by China signifies the growing interest in blockchain-based solutions to address critical issues in the property management industry. While the platform serves as an innovative solution for China’s market, it also sets a precedent for global blockchain endeavors in property rights management.

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