China Takes Another Step Forward in Promoting Blockchain Innovation

The China Center for Information Industry Development (CCID) of the Ministry of Industry and Information Technology in Beijing announced its first monthly Global Public Chain Assessment Index at a recent conference. The platform is designed to offer detailed reviews of global blockchain projects by renowned experts in academia, industry and government bodies.

Previously, the CCID had established the Blockchain Research Institute and the China Ecological Blockchain Alliance, which are assigned to strengthen industry, policy research and blockchain technology. The organizations also provide software research and testing to China’s government.

The conference introduced blockchain experts to the CCID’s latest work in public chain identification. The association’s Blockchain Research Institute has garnered most of its data through the cooperation of the CCID Think Tank, the China Software Testing Center and other departments built to scientifically evaluate global public chain technology and further blockchain innovation. In the future, the CCID hopes to provide professional consulting services to blockchain businesses, government branches, technology developers and research institutes, thus paving the way for further blockchain adoption.

During the event, representatives stated what was necessary to identify public chain objects:

1. An application must possess its own independent main chain.
2. Any entity should be able to freely create and operate a full node on the network.
3. It should have a published block explorer where information is easily tracked.
4. It must run on open-source code.
5. Its primary team members should be easy to contact through its website.

These regulations have allowed the organization to identify several public chain objects including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Cardano and NEO, among others. The first Global Public Chain Assessment will be formally announced this coming week, while the CCID’s website will serve as its official publishing platform.

The conference was hosted by Dr. Songtao Pu of the CCID Think Tank. Additional panelists included Dr. Qian Liu from the organization’s software institute, Dr. Tao Lv from the China Software Testing Center, and Anlei Wei from the CCID Blockchain Research Institute.

The Ministry of Industry and Information Technology in China was established in 2008 as a government body under the country’s state council to administer China’s industrial branches and information industry. Its primary duties include determining China’s industrial planning, standards and policies; promoting the development of major equipment and innovation in China’s communications arena; guiding the construction of information systems; and instilling necessary protection for these systems.

Serving directly under the Ministry, the CCID seeks to develop information industries in China and bridge the gaps between government and business ventures by providing research, evaluations and certifications to ongoing data projects.