A Chinese energy supplier has successfully launched its first blockchain node through the State Grid Corporation of China on Monday, July 13, as reported by local media outlet The Paper.

The State Grid Corporation of China is a government-backed network which is connected to one other power company. The construction of the "State Grid Chain" is part of the Party Central Committee's plans to continue developing and researching applications of blockchain technology across government affairs, energy and finance.

The announcement noted that this is the first step to building a blockchain power energy system.

By Emily Mason