China wants to normalize its blockchain

Chinese government official told local media on May 10 that by the end of 2019 China will be forced to make its own national standards for the Blockchain, with a view to efficient adoption.

China normalizes its Blockchain by the end of 2019

Li Ming, the director of the Blockchain Research Office, at the standards institute under the auspices of the Chinese Ministry of Information, addressed the Xinxua Economic Information Daily (EID) to announce that a working group Dedicated had already started taking charge of the project concerned.

The organization of various government agencies will become known as the Blockchain and Distributed Accounting Technology Standardization Committee. "

As the EID report indicates, Beijing's expectations of China do not mean that the new legislation will "rapidly advance the development of the Blockchain industry. "

"He will advise the industry," he says, echoing Li's words.

Take into account the risks

In recent months, the Chinese authorities have unanimously defended the potential of Blockchain . At the end of April, Yao Qian, director of the Digital Currency Institute of the People's Bank of China (PBoC), announced that technology is entitled to "more attention and research, while preventing risks against the volatile nature of its current nascent state. "

To stay internationally competitive, blockchain exploration is inevitable for Beijing, according to YuKequn, the director of the National Center for Research on Information Technology Security. He told EID:

The development of Blockchain technology can become an important step for China to embrace global technological competition.

What do you think of China's plan to normalize the Blockchain in 2019? Comment in the comments section below.