A Chinese government agency plans to create national standards to boost the growth of blockchain technology and distributed accounting (DLT) in the country.

According to an announcement released yesterday, the Ministry of Industry and Information Technology has already organized, as a first step, a research seminar to discuss how these frameworks of standards might to be built.

The effort, proposed by the China Electronics Standardization Institute under the direction of the ministry, now aims to form a committee to lead the effort

The ministry said that currently, major international standards organizations in China have already weighed in on the subject of DLT, signaling the country's dedication to keeping the country ahead with blockchain technology.

While China is already participating in the TC 307 commission of the International Organization for Standardization, which focuses on the framework of the use of blockchains in authentication and smart contracts, the IT agency says that it is implementing its own initiative.

The plan also conforms to China's positive public stance on blockchain adoption, even though the authorities have cracked down on cryptocurrency-related investment activities, including the offerings. initials and exchanges during the last year.

The announcement comes just days after China's largest annual political conference, which saw several political advisers suggest that the nation form guidelines and regulations to facilitate the development of blockchain technology.

Flag image of China via Shutterstock

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