BEIJING, March 29, 2021 /PRNewswire/ — Wanglu Tech Ltd. (“Wanchain”) is pleased to announce that the State Grid Corporation of China (“State Grid”) has approved the results of its contracted feasibility study.
The study systematically analyzed the impact of integrating blockchain technology into State Grid’s national data management system and concluded that Wanchain’s blockchain technology is ideal to upgrade the world’s largest utility company’s national data management system.
The feasibility study results highlight the unique requirements of State Grid’s national data management system and outlines the specific consensus mechanisms and encryption algorithms best suited to integrate with existing systems.
On the basis of these results, State Grid selected Wanchain’s interoperable blockchain technology to build a company-wide, inter-departmental, cross-regional data management system. This upgraded system will leverage Wanchain’s T-Bridge framework, enabling interoperability between private and public blockchains.
Jack Lu, Founder and CEO of Wanglu Tech notes:
“We 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.