China's Blockchain Market (IV)

Source: Fazzaco 2020-08-03

Chapter Two Blockchain in Aspects

1.Top-level Design

China started to establish blockchain standards in 2016, and made marked progress in 2018.

In the White Paper of Blockchain Technology and Its Application in China published in 2016, the “blockchain standard framework” was separated in 5 classifications, i.e. basic standard, service & application standard, process & method standard, credibility & interoperability standard, and information security standard. Statistics showed that China held more than 10 conferences related to the formulation of blockchain standards and norms in 2018. Meanwhile, China was also assigned the task of jointly editing ISO/TC 307 Blockchain and Electronic Distributive Ledger Technology, demonstrating China’s proactive participation in establishing international blockchain standards.

Now China has released 1 national-level standard, 16 association standards, and 13 industry standards, among which 50% target at service and application, 25% fundamentals, and 16% information security. Our research doesn’t go beyond the “basic standard” level (terms and frameworks), and only few standards center on credibility, interoperability, and process.

On November 20, 2019, the state Standardization Administration announced a plan to establish a batch of blockchain and distributive ledger committees. The process is going smoothly.

China Bitcoin

Blockchain

China's Blockchain Market (IV)

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