Livestreaming e-commerce has taken off in China and brought various problems in its wake, which the market regulation authorities in one province are addressing with the use of blockchain technology.
There have been cases of sellers infringing on consumers’ rights and interests to boost their popularity and profits but a blockchain-powered mobile app launched in Zhejiang Province will help tackle these issues.
How does it work?
- The app, Xinhua reports, can help law enforcement officers obtain evidence on relevant mobile apps, programs and livestreaming sessions through screen capturing and voice recording anytime and anywhere.
- The system will automatically generate an evidence document containing the blockchain information to ensure that the evidence is not manipulated and can be tracked.
Takeaway
“China’s blockchain research and implementation over the past few years has made it clear that they’re not playing catch up with the Western world, but rather exploring thoughtful, measured ways to deploy a new sort of digital infrastructure for their economy” – Eden Dhaliwal, Global Managing Director at Conflux Network
Sourced from Xinhua, Nasdaq
