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China Working to Define Blockchain Standardization

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It was recently announced through local news sources that China is actively working towards setting standardization standards for the usage of blockchain technology within the country.

It is not surprising news seeing China’s fierce approach towards the regulation of cryptocurrencies and their pertaining technologies, especially when China is also a member of the initiative TC 307 by the International Organization for Standardization, which is solely focused on the standardization of blockchain and distributed ledger technologies. China is among 30 other countries that are participating in the program.

While definitive achievements were not covered by the news sources, it was mentioned that there has been positive progress by China on achieving standardization standards for blockchain that the country could move forward with introducing in the near future, at least domestically.

With China’s extremely strict approach towards cryptocurrencies in the past year, it remains to be seen what standards it would introduce for the usage of blockchain technology within the country. However, it would not be presumptuous to state that it might not actually be as strict towards blockchain as much as it has been towards cryptocurrencies, since even the most critical of parties against cryptocurrencies actually speak positively towards blockchain.

 

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