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PRESS RELEASE. The State Grid Corporation of China will be adopting blockchain interoperability platform Wanchain\u2019s technology for their national data management system.<\/span><\/i><\/p>\n <\/i>30th March, 2021, Beijing, China<\/b> \u2013 <\/span>Wanglu Tech Ltd. (\u201cWanchain\u201d) is pleased<\/span> to announce that the State Grid Corporation of China (\u201cState Grid\u201d) has approved the results of its contracted feasibility study.<\/span><\/p>\n The study systematically analyzed the impact of integrating blockchain technology into State Grid\u2019s national data management system and concluded that<\/span> Wanchain\u2019s blockchain technology<\/span><\/a> is ideal to upgrade the world\u2019s largest utility company\u2019s national data management system.<\/span><\/p>\n Study Highlights<\/b><\/p>\n The feasibility study results highlight the unique requirements of State Grid\u2019s national data management system and outlines the specific consensus mechanisms and encryption algorithms best suited to integrate with existing systems.<\/span><\/p>\n On the basis of these results, State Grid selected<\/span> Wanchain\u2019s interoperable blockchain technology<\/span><\/a> to build a company-wide, inter-departmental, cross-regional data management system. This upgraded system will leverage Wanchain\u2019s T-Bridge framework, enabling interoperability between private and public blockchains.<\/span><\/p>\n Jack Lu, Founder and CEO<\/b> of Wanglu Tech notes:<\/span><\/p>\n \u201cWe are extremely proud to be working with State Grid to modernize their data management system. Large enterprises present an important avenue for the widespread adoption of blockchain technology. Enterprise blockchain solutions highlight the need for truly interoperable solutions. This collaboration reinforces Wanchain\u2019s interoperable blockchain technology as the best in the industry.\u201d<\/span><\/i><\/p>\n Smart Contracts and 5G<\/b><\/p>\n State Grid will also use smart contracts to automate and streamline data management systems. Combined with other emerging technologies, such as 5G, State Grid is designing a new, integrated data management system using Wanchain\u2019s blockchain technology.<\/span><\/p>\n \u00a0<\/p>\n About State Grid<\/b><\/p>\n State Grid is a central state-owned enterprise (\u201cSOE\u201d) established on December 29, 2002 under the Company Law of the People\u2019s Republic of China. As a super large-scale SOE crucial to China\u2019s energy security and economic lifeline, State Grid takes the investment, construction and operation of power grids as its core business, with a registered capital of RMB 829.5 billion.<\/span><\/p>\n State Grid supplies power to over 1.1 billion people in 26 provinces, autonomous regions and municipalities, covering 88% of the national territory. In 2020, the company ranked third on the Fortune Global 500 list.<\/span><\/p>\n \u00a0<\/p>\n About Wanglu Tech Ltd.<\/b><\/p>\n Wanglu Tech Ltd., established in 2016, is a blockchain company dedicated to providing government and enterprise clients with innovative, interoperable blockchain solutions and applications. Wanglu Tech Ltd. Handles the core development of the Wanchain blockchain infrastructure on behalf of the Wanchain Foundation.<\/span><\/p>\n \u00a0<\/p>\n Media Contact<\/b><\/p>\n Contact Name<\/b>: Temujin Louie<\/span><\/p>\n Contact Email<\/b>: <\/span>temujin@wanchain.org<\/span><\/p>\n \u00a0<\/p>\n Learn more about Wanchain<\/b> \u2013<\/span> https:\/\/www.wanchain.org\/<\/span><\/a><\/p>\n Follow Wanchain on Twitter<\/b> \u2013<\/span> https:\/\/twitter.com\/wanchain_org<\/span><\/a><\/p>\n Find Wanchain on Facebook<\/b> \u2013<\/span> https:\/\/www.facebook.com\/wanchainfoundation\/<\/span><\/a><\/p>\n