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IFCERT Launch Official Blockchain Recording and Depository Platform in China

Right after the “ICO Ban” document released on 4 September, IFCERT (National Committee of experts on the internet financial security technology) launch official Blockchain Recording and Depository Platform. Screenshot below shows that the site is still online this morning.
ifcert blockchain
According to the statement, the Platform is a pilot program founded by IFCERT, Ganzhou Blockchain Financial Industry Sandbox Management Committee and Xinhua Network. The industrial park was founded in July 2017, boasting to be the first blockchain sandbox in China. With technologies like big data, cloud computing and blockchain, the Platform offers:

1.”penetrative monitoring” from three perspectives of project entity, business data and digital commodity
2. An compliant environment for entrepreneurs
3. A collective management platform of projects for regulatory authorities.

However, the Platform is only open to enterprises based in Ganzhou Blockchain Financial Industry Park at “the initial stage”. If any blockchain startup wants to register on the Platform now, it must set up an office in the industrial park. During the test period, the data of registration is provided by the Ganzhou Blockchain Financial Industry Park.

The launch of the Platform sheds lights on the compliance matter but the registration itself doesn’t render ICO projects legal. It’s clearly stated that the Platform would not be legally liable for any disputes arising from the blockchain projects registered on the Platform.

PBoC official proposed that digital financial service could be regulated under “sandbox” framework in July. One month later, IFCERT released the Guideline of Blockchain Compliance. All evidence hints that the authority seems to be in favor of the blockchain technology until the “ICO Ban”. The launch of the Platform has won positive comments from the community

Although the authoritative force is clearly behind pushing ICO compliance, Taiyi Cloud is also mentioned on previous report on the opening of the Ganzhou Blockchain Industrial Park. Dengdi, CEO of Taiyi, is also in charge of Yuanbao, the altcoin exchange founded in 2013.

Update: The link of the Platfrom is not accessible at press time.



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