The Chinese Ministry of information technology will develop blockchain standards

The Chinese Ministry of information technology will develop blockchain standards

The Chinese government is considering the establishment of national standards to encourage the development of blockchain technology and distributed registries (DLT) in the country.

According to published yesterday the report, the Ministry of industry and information technology, as a first step, has held a research seminar to discuss on the basis of what principles can be established such standards.

The initiator of this initiative was the Institute of standardization China electronics, have now established a special Committee in which it will undergo further work.

The Ministry noted that at present, the major international organization for standardization, China has actively engaged in the theme of the DLT that shows the commitment of the country to remain one of the leading countries in the field of blockchain technology.

While China is already involved in the Commission TC 307 under the International organization for standardization, which focuses on the development of a framework for blockchain technology and smart contracts, it, the Ministry said that now the time is ripe for such initiatives in the country.

This initiative is in General consistent with the common position of China in relation to new technologies, which can be described as positive, even despite the ban on the holding of the ICO and activities of cryptocurrency exchanges.

News tags
Let's Disqus