China Telecom established blockchain and digital economy laboratory

According to Xinhua News, on November 14, China Telecom Chongqing Company held the 2019 China Telecom Chongqing Company Science and Technology Festival with the theme of “Hello 5G, Empowering the Future” in its headquarters building. At the Science and Technology Festival site, it also showed China Telecom's latest achievement in blockchain technology – blockchain bidding system. According to the staff, the platform solves the problems of high cost, low efficiency and easy tampering of the traditional electronic bidding platform through blockchain technology, which can achieve fairness, openness and fairness in the bidding process. It is understood that China Telecom Chongqing has carried out relevant research in the field of blockchain technology, and has specially established blockchain and digital economy laboratories.