'It's Too Hard to Participate': CWV Partner on China's Blockchain Blueprint

Back in July, the Beijing government released its first blockchain application blueprint concerning government services in China.

According to Neo Wang, managing partner at public blockchain CWV, this application fell far short for people interested in contributing to the initiative.

He told Cointelegraph China that the bar for public chains to collaborate with government service blockchain applications was too high to overcome.

Wang's comments came during an interview during the Great Bay Area International Blockchain week on August 8.

Wang explained, "The compliance threshold of these applications is high, and it is generally difficult to participate in them."

"The cost of the public chain project itself is relatively high, and most of them are entrepreneurial companies, so it is difficult to bid in a protracted way. In particular, there is still a resistance to tokenization in China it is difficult to highlight the advantages of the public chain at the bottom of technology, and it is also difficult to participate in government affairs projects."

Since Xi's speech on blockchain last year, China's government and institutions have promoted a number of Blockchain application projects.

Data sharing and collaboration among government sectors are the main focus for making implementing blockchain in government service applications a success.

This could make the whole government service blockchain network less decentralized.

As Cointelegraph reported previously, the Beijing government released its first blockchain application blueprint for government services.