Article 10 Providers and users of block chain information services shall not use block chain information services to engage in activities prohibited by laws and administrative regulations that endanger national security, disrupt social order and infringe on the legitimate rights and interests of others. They shall not make use of block chain information services to produce, copy, publish and disseminate information prohibited by laws and administrative regulations.
Article 21 Where a block chain information service provider, in violation of the provisions of Article 10 of these Provisions, produces, duplicates, publishes, disseminates information content prohibited by laws and administrative regulations, it shall be warned by the Internet Information Office of the State, provinces, autonomous regions and municipalities directly under the Central Government in accordance with its duties, ordered to make corrections within a time limit, and shall suspend relevant business before making corrections; if it refuses to make corrections or if the circumstances are serious, it shall also A fine of between 20,000 yuan and less than 30,000 yuan shall be imposed; if a crime is constituted, criminal responsibility shall be investigated according to law.
The users of block chain information services who, in violation of the provisions of Article 10 of these Provisions, produce, duplicate, publish and disseminate information prohibited by laws and administrative regulations shall be dealt with by the Internet Information Office of the State, provinces, autonomous regions and municipalities directly under the Central Government in accordance with the provisions of relevant laws and administrative regulations.
Waltonchain has no problems uploading product/business data to blockchain as this data does not violates the laws."
That’s good to hear, thanks for sharing. Was there anything stated regarding KYC for users? This appears to be another prerequisite for operating in China and I’ve not heard anything mentioned about it. Seems a tricky thing to implement.
I'd like to hear a discussion on this also, one of the stipulations is that Blockchain providers are required to be able to remove problematic content, but that obviously conflicts with the immutability characteristic, Im not sure what strategy Walton will employ here.
For example: “check the identity of users” - are there any KYC capable applications in the works? I’ve been here a while but can’t recall anything of this nature being said? But I may have missed something longer term. I assume this applies to international users, too, as the rules will likely apply Blockchain wide. So it seems as though identification of users will be mandatory to operate there.
Wouldn’t it be impossible for any blockchain to do that? What if I’m verified and I send my family and friends some. Then they do the same. How do you ensure every user is verified? ICO buyers maybe but that’s about it
It was part of the regs put out - mentioned at the start of the article: “check the identity of users under rules set out on Thursday by Beijing.”
I know that various governments have been looking to create digital identities within Blockchain ecosystems so the tech is definitely underway. There will likely be blockchains that don’t have this too, so maybe you can just convert to send to your family. But it seems that for compliance in China, KYC ability is going to be necessary for projects operating there.
I mean it says Blockchain platforms will have to do x,y,z. The thing is, depending how the platform is built, they may not have any control over some of these things, like user data. Access to storage would mean they would need access to all individuals devices. There are no central servers to tap. They can make it illegal and scare Chinese people from using it, but they can't enforce Elastos to do something that technically can't do. Also this only really affects China.
Yup, and blockchain can't be anonymous due to bad actors if nobody can see your transactions governments can't they won't like a platform like Monero there has to be some privacy for other people like friends and family this can be done my masking your public key.
This is also the reason why governments love Bitcoin everything is completely traceable.
It has to be traceable by someone this is why
I wouldn't mind uploading my ID to a decentralized system just to use it if this means being a bad actor is almost impossible. Scammers are way too common on the normal internet if you scam but have your ID tied to it you could easily get blocked from using the system which I honestly think you deserve.
Just think off a few problems that this will fix ofcourse you would lose a lot of privacy but everything you do on the internet is not private anyway.
1. Things like scamming online become impossible.
2. Selling illegal stuff online will become impossible.
3. Cheating in videogames will get you banned with no possibility to create a new account by just buying a game again and again.
Simply creating private keys like it's nothing should not be a possibility it's so easy to misbehave on a network that can't be traced at all.
> Now blockchain platforms will be required to implement real-name registration for users via a national ID or telephone number, censor content and store user data.
Not sure what "censor content" means in that context but NEO/ONT have no issues implementing this, since it's built for regulatory compliance. I think it's also possible with Elastos?
This is no different than a bank having all of your information.
With crypto, you are your own bank, in a sense.
The only person that may possibly need your info, is the person youre sending money to, or receiving from.
Let's face the reality. Elastos workforce lives in China, their developers and team is based out of China, you can't pick them up and just move them. I'm not feeling very sanguine about this.
I agree, I would like some comments from the team members
They don't have to move. They can stay there and develop the platform to be used elsewhere (at least that's what they would say). For users in China it could be a problem as far as being anonymous goes.