China uses blockchain technology to regulate livestreaming e-commerce
Grant Verry, China Country Manager of Wattle Health Australia Ltd, shows how blockchain technology helps make a can of milk power traceable at the second CIIE in Shanghai. [Photo by Yang Yang/chinadaily.com.cn]
HANGZHOU - The market regulation authorities in East China's Zhejiang province have officially launched a blockchain-powered mobile app to improve regulations of the burgeoning livestreaming market.
The app was released in the provincial capital of Hangzhou. According to the local market regulation administration, it would play a significant role in the supervision and law enforcement of mobile social media and livestreaming e-commerce platforms.
Livestreaming e-commerce has rapidly developed into an important marketing method in the internet economy. However, problems such as sellers infringing on consumers' rights and interests to boost their popularity and profits are becoming increasingly prominent.
As a mobile app based on Android, the app can help law enforcement officers obtain evidence on relevant mobile apps, programs, and livestreaming sessions through screen capturing and voice recording anytime and anywhere.
The system will automatically generate an evidence document containing the blockchain information to ensure that the evidence is not manipulated and can be tracked.