Telecoms Giant Wants to Move Mobile Data Top-Ups to a Blockchain

China Mobile Corporation, one of the three state-owned telecommunications giants in the country, is exploring the use of distributed ledger technology within its core mobile data business.


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According to patent application filed with China’s State Intellectual Property Office (SIPO) in November 2016 and made public on Tuesday, the company is eyeing the development of a blockchain network to handle transaction requests for mobile data top-ups and remove the heavy processing load from its data centers.

With such a system, the document says, when a user first signs up for a network plan, an initial top-up transaction will be created together with the user’s information. This data is then stored on a blockchain that consists of what the firm calls “top-up nodes.”


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Subsequently, when the user sends requests for further data top-ups, China Mobile would debit funds from the user’s account, at which point the blockchain nodes would verify the transaction based on the information it already holds on the user. Following verification, China Mobile would then allocate more mobile data to the user, according to the request.

As such, the system would sustain a chain of records of a user’s transaction history in a decentralized manner.

In the filing, China Mobile said that the effort comes at a time when the firm is facing rapidly increasing numbers of mobile devices and a resultant spike in data requests from customers.

The company commented on the potential advantages of the proposed technology, saying:
“A centralized structure imposes a significant cost of security and trust as it needs to integrate a system’s safety, privacy and anonymity into a design … which inevitably increases the difficulty of technology renovation with even a higher cost of maintenance. As such, we need a new decentralized technology to manage the mobile data allocation.”


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Author: Wolfie Zhao
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China to scrap foreign auto ownership limits by 2022

China will scrap foreign ownership caps on local auto companies by 2022 and will remove restrictions on new-energy vehicle ventures this year, a major shift that will open the market wider to car makers from Nissan to Tesla Inc.

The country will scrap the limits on firms making fully electric and plug-in hybrid vehicles in 2018, commercial vehicle firms in 2020 and lift restrictions on the wider passenger vehicle market by 2022, China state planner said in a statement.

The moves signals the end of a long-standing rule in the world’s largest auto market where foreign car makers can currently only own a 50 percent share of any local venture, a policy put in place to help support domestic car makers compete against more advance international rivals.

The move also comes after President Xi Jinping said last week the country would scrap ownership limits “as soon as possible”, encouraging global auto brands even as a fierce standoff over trade intensifies between Beijing and Washington.

The rule change could boost U.S. electric vehicle maker Tesla, which has been seeking to set up a wholly owned plant in Shanghai. Tesla chief Elon Musk said last month China’s auto rules created an uneven playing field.

Tesla and scores of others from traditional automakers to technology firms are all competing for a slice of China’s fast-growing new-energy vehicle market as the country looks to impose tough new tariffs to encourage production of “green” cars.

China will also scrap foreign ownership limits in the ship and aircraft manufacturing industries in 2018, the National Development and Reform Commission (NDRC) said.

 


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Norihiko Shirouzu, Adam Jourdan
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