Thursday, December 9

China to launch the first national blockchain standard next year

After banning the use of cryptocurrencies, China announces the launch of the first national blockchain standard next year. In this way, it is committed to the use of this technology for business and government purposes.

As reported by the newspaper Chuanguan, Li Ming, director of the Blockchain Research Office of the China Electronics Standardization Institute, revealed that the institute is participating in the development of national blockchain standards. The aforementioned publication states that China’s first national blockchain standard has entered approval status and will be launched in the middle of next year.

China and the national standard in Blockchain

In any industry, the fundamental thing is to have standards. Like Wi-Fi and Bluetooth, if they don’t meet the standards, they can’t connect to the network, Ming said. The standard will clarify what functional parts and components of the system exist on the blockchain. For example, what role does a company play in the blockchain-related industry? As a technical service provider, as a user, as a software developer or as a third party.

Li Ming said that standardization does not come out of nowhere. Detailed research on the entire technology, application and industry is necessary to discover the objects of standardization and the scope of standardization, so that the national industry and local standards can be truly formed.

Inflection point in blockchain

For his part, An Hongzhang, general secretary of the Sichuan Blockchain Industry Association, indicated that after 2020, there are more and more large platforms and fewer national chains, regional chains and fewer small chains. This marks a turning point in the blockchain industry, he said.

«Blockchain is a solution to the problem of trust. If it is not recognized or recognized by all, it is useless. Hongzhang, believes that there is a great powerful and credible blockchain platform. Hongzhang highlighted the existence of a large infrastructure. “Now we have national infrastructure platforms, such as Spark Chain, led by the Ministry of Industry and Information Technology. Each region also has regional platforms, such as the Shuxin Chain in Sichuan and the Chang’an Chain in Beijing. ‘

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