China, one of the most important countries in the world, has the intention to create a committee for blockchain standards. The information has been released by the Chinese Ministry of Industry and Information Technology (CMIIT). In the document published by the entity, there is a list of objectives that aim to encourage the development and standardization of blockchain technology and other IT sectors.
China Seeks to Standardize Blockchain
The document released explains that China has as objective the creation of the National Blockchain Distributed Accounting Technology Standardization Committee. This committee will have the responsibility to recommend standards in blockchain reference architectures, data format specification, interoperability, and smart contracts.
At the same time, the CMIIT released another announcement on March the 23th that explains that they were discussing the use of blockchain technology in the Chinese industrial sector. In the future, the CMIIT will keep exploring and experimenting with blockchain technology in different industries and fields.
Governments and enterprises are embracing blockchain technology. The last year, cryptocurrencies had an exponential growth that allowed blockchain technology to be known all over the world.
Several governments all over the world are using blockchain technology in different fields in order to improve their services.
One of the most important blockchain experiments being developed right now is the one tested by the Dutch government. Netherlands is testing different blockchain solutions in different cities and municipalities. With some enterprises that are helping, the government is trying to promote the use of this technology and make the government more efficient.
Koen Lukas Hartog, Program Manager of Blockchain Pilots, commented:
“We did not do this alone, because I think the key ingredient of the success of our pilot projects is that we were able to create a large network of technical experts.”
Russia is one of these countries that is implementing blockchain solutions to its government. For example, the city of Moscow has several blockchain projects in mind. One of them is the voting system based on Ethereum’s blockchain known as Active Citizen. Citizens of Moscow will be able to cast their votes for different city projects using blockchain technology.
With this new Committee in China, the country will be able to generate blockchain standards across different industries. That would allow the technology to spread across several industries and facilitate the work of the developers working with blockchain.
In the future, many other countries will create similar entities in order to regulate a market that has an important growth potential for the future.
Join the conversation over at Telegram (https://t.me/coinstaker)
- Cointipping and Why It’s on Its Way Out - Nov 7, 2019
- Bithoven Exchange Announces New Margin Trading Services For Users After Several Requests - Jul 11, 2019
- Binance Exchange Launches a New Fiat Crypto Exchange Called Binance Jersey - Jan 17, 2019
- VISA Acquires Ripple’s Partner Earthport After Closing a £198 Million Deal - Dec 29, 2018
- Report Says Cryptos Could Soon be Legalized in India - Dec 28, 2018
Tags:BlockchainBlockchain Chinablockchain infromationblockchain newBlockchain NewsBlockchain standardsBlockchain TechnologyBlockchain Technology Chinablockchain technology china newsblockchain technology newsBlockchain technology standardschina blockchain news