China’s Shenzhen Province to Record Data Ownership on Blockchain

Data ownership records should be kept on the blockchain for at least 30 years, according to a draft bill of China’s data property rights documentation division published on Monday by the government of Shenzhen.

In accordance with the suggestion, data proprietors can assert property rights over their voluntarily gathered information and variants by registering with the pertinent officials.

After registering, data proprietors will be given proof of ownership for “data property,” which can be swapped on the data marketplace or utilized as an asset for bookkeeping and financial uses.

China issued guidance to create a governed data market in December 2017, outlining a regulatory platform for data possession. Shenzhen is seeking public feedback on the draught through March 17.