Blockchain Standardization Tops Chinese IT Ministry's 2018 Agenda

NEWS
Wolfie Zhao
Mar 23, 2018 at 10:00 UTC  |  Updated  Mar 23, 2018 at 10:03 UTC

China's Ministry of Information Technology and Industry has put blockchain standardization high up on its list of priorities for 2018.

According to an official announcement on Friday, the ministry's Information and Software bureau has outlined seven major areas of focus in its 2018 agenda, four of which will cover standardization initiatives that relate to the blockchain space.

Top of list, based on the announcement, is the formation of a dedicated committee that will seek to develop and roll out a standardized framework for blockchain use in the country.

While the new follows a previous report that the bureau already formally announced the formation of the committee, it hints that the agency is making a stronger drive at a high level to ensure the country stays ahead in blockchain development, which was widely praised at the country's annual political event in early March.

The new agenda also speaks to recent efforts taken by the ministry in a reported Australian tour with major Chinese internet giants in bid to learn from Australia's experience in leading blockchain standardization works.

As reported previously, Standards Australia was chosen in 2016 to spearhead a technical committee developing blockchain tech standards under the oversight of the International Organization of Standardization.

Other areas of focus in the latest agenda will aim at widening collaboration with global standardization organizations, as well as developing more specific frameworks for blockchain technology such as distributed ledger infrastructure and smart contracts.

In a separate note, also published Friday, the bureau said it hosted a seminar on Thursday with major organizations and companies from the industrial sector to discuss blockchain use cases and challenges in the area.

China flag image via Shutterstock

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