Technology

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

Posted on by Minakshi

Digital Developments Across Asia: China’s Blockchain Leap and Japan’s Solana Exploration

China’s Chang’an Chain Achieves 100,000 Transactions Per Second

China is making significant strides in blockchain technology with its homegrown Chang’an Chain. Developed as a solution for China’s digital sovereignty, this blockchain infrastructure is gaining national attention.

Key Features and Applications

  • The Chang’an Chain, backed by the state, is entirely open-source.
  • It reportedly handles over 100,000 transactions per second (TPS), putting it on par with established financial networks.
  • This blockchain is being implemented in China’s national real estate registration system.
  • Companies are also leveraging it to digitize supply contracts, enhancing transparency and efficiency for banks in loan approvals.

Japan’s Minna Bank Eyes Solana for Stablecoin Issuance

In a move indicating increasing interest in blockchain applications, Japan’s Minna Bank is reportedly exploring the possibility of issuing stablecoins on the Solana blockchain.

Implications for the Japanese Financial Landscape

  • This exploration signifies a potential shift towards incorporating blockchain technology within traditional banking systems in Japan.
  • Issuing stablecoins on Solana could improve transaction speed and lower costs compared to conventional methods.
  • This initiative might pave the way for other Japanese financial institutions to embrace blockchain solutions.
Summary:

  • China’s Chang’an Chain achieves a remarkable 100,000 TPS, supporting national digital projects.
  • Minna Bank in Japan is considering issuing stablecoins using the Solana blockchain.
  • These developments highlight the growing adoption and innovation in blockchain technology across Asia.
Key Takeaways:

  • China’s focus on blockchain is driven by the need for digital sovereignty and control over its technological infrastructure.
  • The high transaction speed of Chang’an Chain demonstrates China’s ambition to compete with global financial networks.
  • Japan’s interest in Solana signifies a growing acceptance of blockchain within established financial institutions.
  • Stablecoins can offer greater efficiency and transparency in transactions compared to traditional methods, hence Minna Bank’s interest.