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"Quality supervision authorities at all levels must intensify quality supervision and keep cracking down on law violations to improve the quality of products and protect consumers' rights," said Mei Kebao, deputy head of the administration.
One of the most discussed potential use cases of the block chain is as a decentralized Uber. Instead of using an app, customers could order a car and pay the driver directly, cutting out the middleman. (Sorry, Travis Kalanick.) The block chain can be utilized for everything from the storage of secure documents (that is, a decentralized Dropbox, too) to “watermarking,” in which a specific coin could contain, say, the deed to your house. “The block chain is going to spawn decades of innovation,” says Ryan Selkis, director of investments at the Digital Currency Group, created by former SecondMarket founder Barry Silbert. “It could lead to things like frictionless share issuance, title transfers, smart contracts. Collectively these things make up the backbone of the economy. If you wanted to create a decentralized Uber, Dropbox, Facebook, you could reinvent the Internet.”