An official from China’s ministry of industry and information technology has verified that the country’s plan to launch a national blockchain standardization committee should be ready to launch by the end of this year.
Structurally based on TC 307
As discussed in a keynote speech from Li Ying, head of the IT ministry’s information and software department, the structure of the committee will be based on that of TC 307, the International Organization for Standardization’s (ISO) counterpart blockchain commission, as reported by CoinDesk.
Ying’s announcement came at the 2018 Guiyang Big Data Expo on Saturday.
China’s blockchain agenda
These comments follow closely the revelations from China’s IT ministry that indicate an agenda to pursue the standardization of blockchain application development. Ying noted the government’s plans to “expedite blockchain deployment in areas that most urgently need the nascent tech”.
While China is currently a participating member of the ISO’s TC 307 commission, the country has plans to provide its own initiative surrounding blockchain standardization. The TC 307 focuses predominantly on authentification and smart contracts; it may be speculated that China wishes to pursue the standardization of blockchain elements beyond these uses.
The IT ministry of China currently directly supervises a research lab responsible for conducting monthly evaluations of significant public blockchains. It has been reported that this is done in an effort to create a standard rating system of these blockchains, a service that would be a huge benefit for businesses looking to utilize blockchain for their company.
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