[2016-10-21] China’s tech giants will shape international blockchain standards

[hendra147]

The Chinese government has published a “whitepaper” (link in Chinese) that sets out key milestones for the development of blockchain technology in the country, in the strongest signal yet that it’s encouraging the growth of the technology there. The move will give further impetus to firms pushing for blockchain applications in sectors ranging from payments to smart contracts on the mainland, which is already a central force for bitcoin mining (paywall).

The 70-page report (pdf, link in Chinese) was published Oct. 18 by the software services division of China’s Ministry of Industry and Information Technology, and was written by a working group of financial firms and nonprofits including mobile payments giant Ant Financial (an Alibaba affiliate) and Ping An Insurance.

http://kuaixun.stcn.com/2016/1018/12911479.shtml
http://qz.com/813248/chinas-tech-giants-will-shape-international-blockchain-standards-with-beijings-backing/

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[veleten]

this is one major milestone in blockchain history (read: will most likely affect bitcoin and its price positively)

“The international standardization of blockchain is still in the early stage of research,” the report reads. “Whether China can play an important role” during the process largely depends on a “quick response and reasonable planning.” The report has set an aggressive deadline of April 2017 for pilots using blockchain standards developed by the group.


wonder why doesn't the news get the attention it deserves

[panju1]

Sounds counterintuitive that China is encouraging development of blockchain technology, which it probably can't control.
The Chinese government even wants to have a tight grip on the internet....