China Plans To Create Three Blockchain Standards in 2018
The China Electronics Standardization Institute (CESI), the major think tank directly under the the Ministry of Industry and Information Technology (MIIT) for standardization in electronics and IT industry, is getting ready to release three blockchain standards on smart contract, privacy and deposits, in a bid to better guide the development of blockchain industry in the country, according to local news outlet DeepTech.
Li Mining, a director of the blockchain research lab under the CESI, said in a recent interview with DeepTech that these three blockchain standards will be association-based, rather than national standards which will be the basis for the development of national and international standards. He added that the standards will be released by the end of next year.
Li further pointed out the reason why the government-backed institution gives priority to developing these three standards. “Basically, no blockchain standards have been introduced or implemented both at home and abroad. And the security issue on the blockchain is a relatively urgent problem that needs to be solved first.” Li said.
The Blockchain Technology and Industry Development Forum (CBD Forum) of CESI hope to draft the three blockchain standards by the end of this year. Founded in 2016 under the guidance of the MIIT, CBD Forum has published the “China Blockchain Technology and Application Development White Paper (2016)” and “Reference Architecture of Blockchain” standards.
Craig Dunn, chairman of the International Standardization Technical Committee for Distributed Ledger( ISO/TC 307), said during a recent blockchain conference in Shanghai that the international standards are needed as blockchain investment and acceptance are increasing, although many people are still skeptical. ISO/TC 307 which focuses on standard frameworks for blockchain use in authentication and smart contracts has crafted 8 international blockchain standards , and China is a participating member of the commission.
Li Mining emphasized that China’s blockchain standards are just recommended and not mandatory which will be used as a reference guide.
Despite the Chinese government’s harsh stance on crypto-related activities, the country aspires to take a lead in blockchain adoption. In May, Li Ying, head of the IT ministry’s Information and Software Department, said that China will have the national technical committee for blockchain standardization ready within this year and a comprehensive framework for blockchain standards will be completed by the end of 2018, too.