The Chinese National Audit Office presented a proposal to alter its data system to a decentralized, blockchain-founded powerhouse.
China’s National Audit Office made the decision to break from conventionally centralized methods to review the huge troves of data it needs to filter through and twisted its eyes towards blockchain technology.
In its memorandum, the author believes that “it is crucial to carry out rigorous, extensive, and in-depth argumentation research” to determine the feasibility of such a solution from a practical and legal standpoint.
Even though the government doesn’t have a lot of interest in cryptocurrencies, it’s very probable to take the NAO’s suggestion critically. China is a country that’s confident in the advance it’s been making in blockchain innovation, with the central bank boasting 68 patents for solutions that operate with it. If the NAO ends decentralizing its data communications, Chinese citizens can anticipate government audits to occur more swiftly.
