The Chinese Ministry of Industry and Information Technology (CMIIT) published a list of objectives to encourage the development and standardization of the technology sector, including Blockhan, according to a document released on March 23.

The document starts with the goal “to promote the creation of the National Committee for Standardization in the field of Blockchain and further states that the committee will recommend the standards” in the basic Blockchain architectures, data format specifications, interoperability and intellectual contracts.”

The document also says that

NEW COMMITTEE WILL SUPPORT CREATION AND ESTABLISHMENT OF INTERNATIONAL STANDARDS for Blockchain TECHNOLOGY

On March 23, CMIIT published another statement stating that the forum on the use of Blockchain technology in the industrial sector of China completed the day before. The press release says that CMIIT will continue to study this topic.

Earlier in March, it was reported that the government-funded Investment Association of China (IAC) plans to set up the Blockchain Investment Development Center. According to the leaked document, the innovative Blockchain plan calls for linking domestic and international resources, as well as investments in China Blockchain projects, attracting foreign investment and leading international Blockchain forums.

ON THE WORDS OF ONE CHINESE OFFICER REFERRING ON THIS DOCUMENT, MAY 2018 IN CHINA MAY BE INTERNATIONAL SUMMIT “BLOCKCHAIN”

While the Chinese government has taken a terrible line against the cryptocurrency, it seems to be focusing its attention on the underlying technology of Blockchain. The Bank of China filed a patent in February 2018 for a solution for scaling the Blockchain production systems, and the largest online store in China, JD.com, announced the launch of an incubator to attract foreign Blockchain projects.

Leave a Reply