china military blockchain
Chinese Military Considers Blockchain Rewards System
November 19, 2019
china military blockchain
Chinese Military Considers Blockchain Rewards System
November 19, 2019

China’s military could implement a blockchain rewards system to manage personnel data and incentivize its workforce.

On Nov. 18, The Global Times reported that the People’s Liberation Army (PLA) use on the blockchain system would not likely involve in financial incentives, but would be used as an innovation strategy for the military’s management.

The PLA is reportedly interested in managing personal data with records of military training, career path, missions undertaken and performance reports through immutable and secure blockchain-based systems. Tokens could also be offered to soldiers for non-financial incentives. These tokens could serve as “objective evaluations,” which could be recuperated for rewards within the scheme.

An anonymous source familiar with the PLA’s administration cited:

“It sounds similar to a KPI system that will give feedback to the troops very frequently,” he noted. The source added that it remains to be seen what kinds of rewards the tokens would be redeemable for.

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China’s Strategy On Blockchain

China’s President, Xi Jinpingrecently called for the country to accelerate its adoption of blockchain technologies as a core for innovation. Xi stressed that the implementation of integrated blockchain technologies is key in promoting technological innovation and transforming industries.

A local media of China, The People’s Daily, claimed that China should embrace blockchain technology but not “speculate” about cryptocurrencies such as Bitcoin.

“Blockchain’s future is here but we must remain rational”. The local media is a publication under the direct control of the ruling political power, the Communist Party of China.

China’s central bank, The People’s Bank of China (PBoC) is reported to pilot a restriction on large-scale cash transactions in three different regions across the country.


Source: The Global Times | Cointelegraph | Image: IC


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Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
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