Wanglu Tech Ltd., popularly known as Wanchain, a leading high-tech blockchain network solutions provider, took to Twitter to announce that the State Grid Corporation of China is set to adopt Wanchain’s services. With this development, State Grid will leverage Wanchain’s most advanced blockchain solutions to take its national data management system a notch higher, mentions the Twitter account.
The press release by Wanchain further elaborated and stated that this move comes soon after State Grid gave a green signal to the contracted feasibility report about Wanchain’s blockchain solutions. This report aimed at identifying if Wanchain’s blockchain technology could transform the data management system of State Grid. The report established the positive influence of Wanchain’s blockchain technology on data management systems, and hence State Grid has confirmed the adoption of the blockchain solutions of State Grid.
According to Jack Lu, Founding Member and CEO at Wanglu Tech suggested that with institutions like State Grid, making a move to integrate blockchain technology will create a positive impact, leading other giants to follow in their footsteps. Since Wanchain’s blockchain places a great emphasis on offering interoperability to the networks, it will deliver cutting-edge solutions to its Institutional users like never before.
The blog also pointed out other technologies that State Grid intends to use to upgrade its existing data management system. Advanced technologies like 5G and smart contracts will be integrated along with Wanchain’s blockchain technology to develop more sophisticated and consolidated data management systems.
Explaining the parameters to accept the feasibility reports, the blog stated that consensus mechanism and encryption algorithm were given the highest importance. And Wanchain’s blockchain solutions successfully support these parameters, which are critical in the path of adoption of Wanchain’s blockchain by State Grid.
As per the blog, the report played a critical role in adopt Wanchain’s blockchain solutions. The technology’s interoperability will bring about monumental changes by introducing a renewed data management system that will be compatible across several networks and support functionality across multiple departments. Wanchain blockchain solution will extend its T-bridge framework to bridge the existing gap between private and public networks, introducing compatibility between two different ecosystems
Wanchain holds a great reputation for being the most advanced blockchain technology company that supports truly interoperable solutions. It aims to bring private and public networks on one platform to merge digital assets with data across the globe. State Grid Corporation of China is an electric utility company operating since 2002, spanning 26 provinces on its home turf.