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Chengdu and Chongqing Should Facilitate the Data Trading for Blockchain Applications- Experts

By VIVIAN YANICHONGQING|Sep 24,2021

Chongqing- Relying on the construction of the Chengdu-Chongqing economic circle, the governments of Sichuan and Chongqing should facilitate the exchange and trading of data, where blockchain or crypto algorithms can be used to push for greater economic development, said Jintai Ding, a professor at the Yau Mathematical Sciences Center at Tsinghua University.

Chengdu (left) in comparison with Chongqing (right). (iChongqing file photo)

At the 2021 Smart China Expo Blockchain Summit Forum, experts, scholars, and enterprise representatives delivered speeches on blockchain technology innovation and released scenarios of how blockchain can empower industrial development.

Ding Jingtai, Professor at Yau Center of Tsinghua University, delivered a speech about modern cryptography applications and quantum threats. (Photo/ Vivian Yan)

Inter-provincial data-sharing

“If Chengdu and Chongqing can develop a crypto technology to collect and share data.” Ding said and added, “It is possible that the two places can create new information and discoveries, which can bring tremendous value in the application of many fields.”

Sichuan and Chongqing strive to complete 115 inter-provincial affairs by the end of the year. They signed a new cooperation agreement on the collaborative development of big data on August 27.

Sichuan and Chongqing signed the “1+9” cooperation agreement on the collaborative development of big data. (iChongqing/ Vivian Yan)

According to the agreement, both sides will cooperate in 9 key areas, including digital infrastructure, government data sharing, innovative application of credit data, big data legislation, big data standardization system construction, Internet plus the regulation, digital economy development, etc.

In terms of digital infrastructure, for example, the two sides will accelerate the construction of Chengdu-Chongqing national hub node on the national integrated computing power network, explore the construction of internal high-speed data transmission network, and jointly build, share and use China-Singapore (Chongqing) International Dedicated Connectivity, and explore the possible landing of the dedicated connectivity in Sichuan.

Additionally, Sichuan and Chongqing will promote big data legislation and set up regional data cooperation clauses in local legislation. The standards for identification and coding of public information resources in the economic circle and for regional supervision will be compiled to promote mutual recognition and interoperability of a standard system of big data in Sichuan and Chongqing.

Data trading

“Chongqing is a manufacturing center,” said Ding. “They produce lots of industrial data, which are very operated for trading because there is no privacy involved.”

Ding emphasized that this is why Chongqing serves as a good place for this kind of data trading platform.

Chongqing’s manufacturing industry is highly advanced. (iChongqing/ Vivian Yan)

Forming an industrial layout of “one park and four districts” and gathering over 300 enterprises, Chongqing Yungu Yongchuan Big Data Industrial Park has become the city’s largest big data industrial park.

More than 90 companies have settled in the park, including Baidu Western Autonomous Driving Open Test Base and Alibaba Cloud AI Global Delivery Center projects. The annual processing volume of data reached two billion.

According to a local press conference held in April, Chongqing is designed to build an import advanced manufacturing center in China and cultivate advanced manufacturing clusters with international competitiveness.

Specifically, the municipality will cultivate three world-class advanced manufacturing clusters of electronic information, automobile, and equipment manufacturing and build advanced manufacturing clusters such as materials and specialty consumer goods.

Moreover, it aims to build a number of strategic emerging industrial clusters with national influence in new-generation information technology, new energy, intelligent-connected vehicles, high-end equipment, etc.

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