Press release. The State Grid Corporation of China will adopt the technology of the blockchain interoperability platform Wanchain in its national data management system.

March 30, 2021, Beijing, ChinaWanglu Technology Co., Ltd. (“Wanghuan”) is very happy Announced that the State Grid Corporation of China (“State Grid”) has approved the results of its contract feasibility study.

The research systematically analyzed the impact of integrating blockchain technology into the national data management system of the State Grid, and came to the following conclusions: Wanchain’s blockchain technology It is an ideal choice for upgrading the national data management system of the world’s largest utility company.

research focus

The results of the feasibility study emphasize the unique requirements of the State Grid National Data Management System and outline the specific consensus mechanisms and encryption algorithms that are most suitable for integration with existing systems.

Based on these results, State Grid chose Wanchain’s interoperability blockchain technology Establish a company-wide, cross-departmental, and cross-regional data management system. The upgraded system will use Wanchain’s T-Bridge framework to achieve interoperability between private and public blockchains.

Founder and CEO Jack Lu Wanglu Tech pointed out:

“We are very proud of working with State Grid to modernize its data management system. Large enterprises provide an important path for the widespread adoption of blockchain technology. Enterprise blockchain solutions emphasize the need for truly interoperable solutions. This This cooperation strengthens Wanchain’s interoperable blockchain technology, making it the best technology in the industry.”

Smart contracts and 5G

State Grid will also use smart contracts to automate and simplify the data management system. In combination with other emerging technologies such as 5G, National Grid is using Wanchain’s blockchain technology to design a new integrated data management system.

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About State Grid

State Grid is a central state-owned enterprise (SOE) established on December 29, 2002 in accordance with the “Company Law of the People’s Republic of China”. As a super-large state-owned enterprise vital to China’s energy security and economic lifeline, State Grid’s core business is the investment, construction and operation of power grids, with a registered capital of RMB 829.5 billion.

The State Grid provides electricity to 1.1 billion people in 26 provinces, autonomous regions and municipalities, covering 88% of the national territory. In 2020, the company ranked third in the Fortune Global 500 list.

About Wanglu Technology Co., Ltd.

Wanglu Technology Co., Ltd. was established in 2016. It is a blockchain company dedicated to providing innovative and interoperable blockchain solutions and applications for government and corporate customers. Wanglu Tech Ltd. handles the core development of the Wanchain blockchain infrastructure on behalf of the Wanchain Foundation.

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