China publishes national blockchain standard

China’s Ministry of Industry and Information Technology (MIIT) has published a national standard for blockchain technology to guide the development of the industry in the country, a state-run news channel CGTN reported on June 2.

The guideline reportedly standardizes the blockchain system’s functional architecture and core elements, serving as a reference to better understand and utilize the emerging technology.

MIIT reportedly stated that the standard aims to accelerate the standardization of China’s blockchain industry and drive its further development. Global Times reported that over a hundred blockchain companies in the country have been applying the standard to their operations.