China Considers Approval of Blockchain Standards | Digithereum

China Considers Approval of Blockchain Standards

The Chinese government body is considering the possibility of creating national standards to stimulate the development of distributed ledger technology in the country. Obviously, China intends to become the world leader in the blockchain sphere.

According to the published announcement, the Ministry of Industry and Information Technologies has already conducted a research seminar to discuss possible standards and identify criteria for this.

This plan also corresponds to China's positive position about the adoption of blockchain, although over the past year the country's authorities have suppressed investment activities related to the cryptocurrency, including initial coin offerings and trade.

The announcement came a few days after China's largest annual political conference, where repeatedly sounded the idea of creating certain standards for the blockchain. Many believe that such a step will contribute to the development of technology and its faster implementation in all areas.