Chinese government inspectors said they could use block chains for streamlined data storage.
On its home page on Tuesday, the National People ‘s Bureau of the People’ s Republic of China is discussing the use of block chains to mitigate the bottleneck of the current data storage infrastructure. Currently, a large amount of data in the auditing country can be efficiently stored through the distributed general ledger technology. ”
The National Audit Office, one of the 29 cabinet departments of the State Council, administers all government-related financial transactions, from administrative costs to individual public programs. He also oversees state and local autonomous bodies that have their own committee members.
According to the National Bureau of Statistics, all local offices and certified auditors will implement a distributed system at the individual nodes to ensure traceable ledgers and reduce the workload of the central government.
The solution is still being discussed only theoretically, and it is not known which research will actually develop the system.
On the other hand, the need for decentralization presented here seems to be raised due to the limitation of the centralized operating model adopted by the central office. Now that the central office is managing all information, it is inevitable to expand its software and hardware capacity indefinitely.
Block chaining is emerging as a next-generation data storage solution with both the inefficiency and the reliability to track the ledger.