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Guizhou To Complete 5 Guidelines On Blockchain Development

October 24, Guizhou– The blockchain standard working group meeting of Guizhou Province” was held in Guiyang National High-tech Zone. The meeting aims to push establishment blockchain standard in China. As the first municipal government that openly promotes blockchain development, Guiyang City has released the 86-page blockchain development whitepaper in late 2016. However, stepping into the no-man’s zone gives rise to a series of questions and doubts. The situation is even getting more blurry after the “ICO Ban” policy was released by highest authority in September 2017. Thus the blockchain development in China requires more guidance.

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At the meeting, experts from more than 30 participating enterprises in the country exchange ideas with focus on 5 guidelines:

  • The Blockchain Application Guideline
  • The Evaluation and Selection Standard of Blockchain System
  • Standards for Blockchain-based Data Sharing
  • Implementation Guidelines for Precise Poverty Alleviation Based on Blockchain
  • Implementation Guidelines for Digital Asset Transactions Based on Blockchain

The panels will exchange ideas on the 4-day session. Drafts is expected to be completed in 27 October, which will then be submitted for review by 2018. The completion of these standards will greatly promote blockchain-based application in political, civil and business operation in Guizhou Province.

In May this year, the first blockchain standard “Blockchain Reference Architecture (BRA)” was released by CBD forum. This time the effort is to reach consensus on blockchain application standards.

” The standard is irreplaceable as we need a guideline to tell enterprise what to do, how to do and how to measure achievement.”

Li Ming said. He is the Director of Blockchain Research Department of China Electronic Technology Standardization Research Institute, which is also the leading unit in formulating the blockchain standard.

Back in 2016, Guiyang Government issued a whitepaper on Guiyang Blockchain Development and Application. The bold move of a Southwestern city in China attracts the attention among blockchain startups and innovators. Later in May, Guizhou announced to build a blockchain town in Guian District on the the 2017 China International Big Data Expo.

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