Reward Chinese soldiers in cryptocurrency, military mouthpiece says

Liu Zhen

pChinese soldiers could be rewarded in cryptocurrency tokens for good performance if the country’s armed forces embrace a href="" target="_self"blockchain/a technology, a military newspaper has suggested./p pApplying the technology to managing the People’s Liberation Army (PLA) would drive innovation, the military mouthpiece emPLA Daily/em said on Tuesday./p pThe article suggested establishing a digital currency token reward system for staff performance assessments based on criteria such as training, speciality skills, task completion and others./p p“To award or deduct tokens according to one’s daily performance and thus generate an objective assessment would effectively energise the human resource management,” it said./p div class="video-wrapper" div class="video-wrapper" iframe allowfullscreen="true" allowscriptaccess="always" class="c1" frameborder="0" width="560" height="315" scrolling="no" src="//" data-video-source="SCMP" data-nid="3035331" data-youtube-id="uaRckN1YjZo"/iframe/div /div pThis came a few weeks after President Xi Jinping spoke about blockchain, which stirred a market surge for cryptocurrencies and related company shares./p pIn a group study session on blockchain with other top Communist Party leaders, Xi called for faster development of the technology and more investment in it./p p“More efforts should be made to strengthen basic research and boost innovation capacity to help China gain an edge in theories, innovation and industries of the emerging field,” Xi said./p h3a href="" target="_blank"Chinese state media draws line between blockchain and cryptocurrencies/a/h3 pGovernment departments have already responded by exploring possible applications, such as in anti-corruption measures./p pBlockchain is a system of decentralised encrypted digital ledgers that should be unalterable by design, making them impossible to copy./p pThe chain grows through each new transaction recorded, with records of previous transactions kept for verification. Its characteristics could make it suitable for use wherever tracking records and trustworthiness is required./p div class="video-wrapper" div class="video-wrapper" iframe allowfullscreen="true" class="c1" frameborder="0" src=";poster=https%3A//" width="600" height="370" data-orientation="landscape" data-orientation-landscape-nid="2173967" data-orientation-landscape="6k3n0y" data-poster=""/iframe/div /div p“Blockchain technology solved the problem of traditional digital data being vulnerable to tampering or hacking and lack of credibility,” the emPLA Daily/em article said./p pThe article listed other possible ways to make full use of such advantages. For instance, it suggested that classified military secrets could be stored using embedded blockchains with higher-level encryption, so that they could be distributed but not copied, greatly improving information security./p pAnother example it suggested was an electronic shooting range that detects markings on a target automatically and generates blockchain records of each trainee, “in order to maximise the authenticity of training results”./p h3a href="" target="_blank"People can pledge loyalty to the Communist Party of China on blockchain/a/h3 p“It provides a technological guarantee to clean and open training and examination,” it said./p pJust as the civilian logistics industry has adopted blockchain to trace and track food supply chains from farms to shops, the PLA could use the technology of immutable records in its military logistics and supply management, the article suggested./p pA decentralised interaction model could smooth interdepartmental cooperation within the military and in human resource management, while blockchain could also be applied in the storage of personal data, the article said./p pbMore from South China Morning Post:/b/pullia href="" target="_blank"Xi Jinping reiterates rallying call to Chinese military, stresses need for Communist Party’s ‘grip’/a/lilia href="" target="_blank"Chinese and US defence chiefs push for stable military ties and to improve cooperation/a/lilia href="" target="_blank"Chinese state media warns that blockchain push is not a green light for speculation on cryptocurrencies/a/lilia href="" target="_blank"Sichuan beckons power-hungry cryptocurrency miners to the home of the pandas with cheap and plentiful hydroelectricity/a/li/ulpThis article a href="" target="_blank"Reward Chinese soldiers in cryptocurrency, military mouthpiece says/a first appeared on a href="" target="_blank"South China Morning Post/a/ppFor the latest news from the a href="" target="_blank"South China Morning Post/a download our a href="" target="_blank"mobile app/a. Copyright 2019./p