Nanjing Jianye District applies blockchain technology to “time bank”

According to the China Youth Daily, from October this year, the Taoyuanju community in Jianye District, Nanjing, piloted the public welfare time and exchange of old-age services in Alipay, and the entire process was recorded in the blockchain. From November 20th, this method will be extended to the whole district. Jianye District is also the first region in the country to put “time bank” on the blockchain. Wu Fang, an ant gold service blockchain engineer, said that the application of blockchain technology can ensure that the "time" storage and exchange are transparent, prevent loss or tampering, and can be exchanged across agencies and regions. Since 2016, the company has carried out research and development related to blockchain technology, and has already landed in many scenarios such as pension. It is understood that the length of public welfare accumulated by volunteers can be used after they are old. They can also exchange services for parents and other relatives. They can also be passed on to future generations or donated to “time banks” for donation to elderly people in need. .