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Chinese IT ministry wants to create national standards for Blockchain

A Chinese government body is considering the possibility of creating national standards to stimulate the growth of the blockchain and distributed ledger technology (DLT) in the country.

13.Mar.18 5:02 AM
By Daria Zaytseva


Chinese IT ministry wants to create national standards for Blockchain

According to a report released yesterday, the Ministry of Industry and Information Technology, as a first step, has recently conducted a research seminar to discuss how such standards can be built.

The efforts proposed by the China Electronics Standardization Institute, led by the ministry, are currently aimed at creating a committee to guide the efforts.

The ministry noted that currently large international standards organizations in China have already been weighing the topic of DLT, signaling the country's commitment to the country ahead of the curve with blockchain technology.

While China is already participating in the TC 307 commission within the framework of the International Organization for Standardization, which focuses on the basics of using blockchain in authentic and smart contracts. The IT agency said it is now looking at its own targeted initiative of the country.

This plan also corresponds to China's positive attitude towards the blockchain, although the authorities delay investment activities related to the cryptocurrency, including the initial offerings and trading over the past year.

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