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Blockchain in China’s Top-level Design: Blockchain Key Lab and Guide for Officials

China’s Ministry of industry and Information Technology (MIIT) has included a blockchain laboratory on the list of its key labs for year 2018, published on August 13.

According to the ministry’s announcement, the lab will be dedicated to data security by leveraging blockchain technology under the guidance of the National Industrial Information Security Development Research Center.

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To better understand the new technology, on the same day, the country’s ruling party – Communist Party of China, has published a primer on blockchain technology and its potential commercial applications, in an effort to educate the country’s civil servants and officials about blockchain knowledge.

According to its statement, the book provides a scientific interpretation of blockchain origin, key features, future applications and challenges during its adoption. “The operation mechanism of blockchain offers us a brand new perspective to think about and solve problems”, as the head of the publisher wrote in the book.

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“Blockchain – A Guide For Officials”

Blockchain has undisputedly been written into the work priority of the country’s industrial planning. A series of actions have been seen in embracing blockchain technology following MIIT stating that the ministry has begun establishing national standards for blockchain which is expected to be completed by the end of 2019.

Of late, the ministry has reportedly launched a list of industrial projects in 2018 which are expected to bring over US$3 trillion GDP growth to China, and it selected a blockchain startup called Seele to provide technical support for their security requirements.

This May, the ministry has released a white paper on blockchain industrial development and listed development tendencies on blockchain sector in the country with forecast that blockchain will be broadly applied in real economy within 3 years.

With supports from the state level and president Xi Jinping openly praising blockchain as a disruptive technology in making breakthroughs and reshaping global economy, blockchain is developing in full swing in the country though its application cryptocurrency is still not welcomed.

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