TechFlow news, November 8 — According to CoinDesk, Layer 1 blockchain Flare and decentralized cloud infrastructure firm Red Date Technology announced the launch of two pilot projects in Hong Kong, enabling mainland residents to purchase stablecoins issued by virtual asset company IDA. The first pilot will allow users to register anonymously on a regulated stablecoin application, while the second will facilitate the purchase of tokenized financial products using stablecoins. Both pilots will leverage the RealDID system—a mainland China-based real-name decentralized identity system—for anonymous registration. RealDID is a blockchain-based identity system launched in December 2023 by the Blockchain-based Service Network (BSN) and the First Research Institute of the Ministry of Public Security.
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