Chinese National Blockchain Standard Planned for Release Next Year

A Chinese blockchain standard is planned to be released next year, and is currently in the drafting stage and is being submitted for approval, an official at a cultural event in western China's Sichuan province said this week, according to local press "Chuangguang." owned by the national Sichuan Dailey.


The fifth China Blockchain Competition in the Western Region was held in Chengdu on October 27. 13 teams from ten provinces and regions, including Sichuan, Chongqing, Guizhou, Yunnan and Xinjiang competed to reach the state final. You can read more about the event in this article.

Li Ming, head of the Blockchain Research Department of the Electronics Unification Institute, an agency in China under the Ministry of Manufacturing and IT Technology, said the department is participating in the development of a domestic standard for network technology, which is likely to be released next year. Li said the standard is the baseline for the industry, and like Wi-Fi and Bluetooth, cloud technologies must meet specific standards in order to be able to connect to the network, he added.

Lee noted the importance of studying the engineering, practical and regional aspects of the methodology in order to determine the objects to be unified, as well as a certain scale.

Li added that the department will create a scoring system used to create a productive ecosystem based on the standard.
Welcome to blockchain, rejection to digital currency

While China is carefully seeking to eliminate the cryptocurrency industry, state and local authorities are looking for new methods to modernize the blockchain underlying its mechanism.

This month, a little earlier, the Central Council for Internet Affairs, along with seventeen other central departments, including banking, educational, procedural, legal, medical, energy and stock exchanges, jointly issued notices to call on local authorities to the executive branch in different industries to submit prescriptions for a blockchain pilot project, in order to analyze more options for using the new mechanism.

By the way, China is rapidly moving forward in developing its service network based on the "Blockchain Service Network (BSN)" - a nationwide infrastructure program of the public and non-public sectors to encourage large-scale adoption of the blockchain mechanism, and that stimulates the spread of cryptocurrency in the state - the virtual yuan , or e-CNY.