Technology

China’s 100K TPS blockchain, Japan’s Minna Bank eyes Solana: Asia Express

Posted on by Minakshi

China’s Chang’an Blockchain Achieves 100K TPS, While Japan’s Minna Bank Explores Solana for Stablecoins

China’s Homegrown Blockchain Claims Impressive Transaction Speed

China’s state media is actively promoting Chang’an Chain, a blockchain infrastructure developed within the country. This initiative is being lauded as a crucial step towards achieving digital sovereignty for China. The blockchain is reportedly fully open-source and backed by the state, powering numerous national digital projects.

Chang’an Chain: A Deep Dive

According to reports, researcher Dong Jin and his team are the driving force behind Chang’an Chain. Over the past six years, the blockchain has undergone 21 iterations. It now claims to process over 100,000 transactions per second (TPS). This is a significant benchmark, positioning it alongside next-generation blockchains aiming to rival traditional financial networks in scale.

Chang’an Chain is reportedly being implemented in China’s national real estate registration system. Furthermore, companies are leveraging it to digitize supply contracts. This digitization allows banks to verify supplier relationships more efficiently, leading to faster loan approvals.

Japan’s Minna Bank Considers Solana for Stablecoin Issuance

Across Asia, in Japan, Minna Bank, is exploring the potential of issuing stablecoins on the Solana blockchain. This move signals a growing interest in blockchain technology within the Japanese financial sector.

What This Means for the Future

If Minna Bank proceeds with this plan, it could open up new avenues for stablecoin adoption in Japan. Stablecoins offer the potential for faster and cheaper transactions, and their integration with a recognized bank could enhance trust and credibility within the market. It also adds to the increasing number of traditional financial institutions exploring blockchain solutions.

Summary:

  • China’s Chang’an Chain blockchain claims to achieve 100,000 transactions per second.
  • The blockchain is being used in China’s real estate registration system and supply chain management.
  • Japan’s Minna Bank is considering Solana for issuing stablecoins.
Key Takeaways:

  • China is investing heavily in homegrown blockchain technology to achieve digital sovereignty.
  • Chang’an Chain’s reported TPS could position it as a key player in the global blockchain landscape.
  • Japanese financial institutions are showing increasing interest in blockchain and stablecoins.
  • Solana’s scalability and efficiency make it an attractive platform for stablecoin issuance.
  • These developments highlight the growing adoption of blockchain technology across Asia.