Xinghuo Blockchain Infrastructure and novel lucah terbaruFacility (Xinghuo BIF) and Zetrix have jointly announced the introduction of Blockchain-based Identifiers (BID) / Verifiable Credentials (VC) and Blockchain-based E-signing services to international markets, a major milestone in enabling cross-border business with China on the blockchain.  

Xinghuo BIF is a China-initiated international blockchain infrastructure supported by all levels of the Chinese government, while MY E.G. Services Bhd (“MYEG”), via its Zetrix blockchain, runs the International Supernode of Xinghuo BIF to connect entities outside China to the Xinghuo BIF. 

Xinghuo BIF presently resolves 94 mil identifiers daily, placing it as the most actively used platform and validating this use case in real-world applications.

The BID, an official DID method listed in the DID Specification Registry of the World Wide Web Consortium (W3C), is a new approach to realizing decentralized identity based on Xinghuo BIF.

The initial phase of the BID rollout will include the introduction of Chinese-related credentials, agreements, and the corresponding legal frameworks that would serve as the foundation for the establishment of such agreements.