China issues first national standard for blockchain technology

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China's Ministry of Industry and Information Technology (MIIT) recently released a new standard for the development of blockchain technology, marking the country's first approved national standard in the field.

Blockchain, a new type of database mechanism integrated with distributed network, encryption technology, smart contract and other technologies, is a significant part of the new generation of information technology and an important technical support for the development of digital economy, said the MIIT.

The standard, focusing on blockchain and distributed ledger, sets a basic and universal standard that guides the application of blockchain technology and industrial development. It also standardizes the functional architecture and core elements of the system, and will provide reference guidance for the industry to unify their understanding of the concept of blockchain, build and improve the system, and opt to related services.

The standard has "further accelerated the standardization process of China's blockchain sector, laying a foundation for the high-quality development of the industry," said the MIIT.

For the next step, the ministry said it will intensify efforts to develop national standards in the field, publicize and implement unified standards nationwide, and continuously improve the service level of the industry, so as to support to the construction of a strong manufacturing country, a cyber power and a digital China.

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