China develops 3 blockchain-standard

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Bitria “news” China is developing 3 blockchain-standard

The electronic standardization Institute China (CESI) plans to develop three blockchain standards for smart contracts, privacy, and deposits in order to improve the blockchain-industry in the country, reports China Money Network.

According to the Director of the research laboratory Li Ming standards will include basic information security standards, processes and methods, business and application. These standards, whose development is planned by the end of this year, will provide the basis for national and global standards.

The Ministry of industry and information technology of China launched the forum of the CBD in October 2016 and published the “China White paper on blockchain technology and applications development (2016)” and standards “reference architecture blockchain”.

Craig Dunn, Chairman of the international technical Committee on standardization for the Technology of Distributed Registers, said during a recent blockchain conference in Shanghai that international standards are necessary because investment and the adoption of the blockchain growing, but many people are still skeptical about this issue.

Ministry of information industry of China in the beginning of this year emphasized the need as soon as possible to develop standards and cited “positive progress” in the efforts of the ISO to create the seven standards, covering the main phase units, such as smart contracts. The Ministry stressed the necessity of developing a standard system of the block chain in the country.

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