China will seek to release nationwide blockchain standards by the end of 2019, a government official told local news media May 10.
Speaking to Xinxua’s Economic Information Daily (EID), Li Ming, who is director of the Blockchain Research Office at the standards institute under the auspices of China’s IT Ministry, said a dedicated working group had already begun work on the project.
The group, which brings together various government agencies, will be known as the Blockchain and Distributed Accounting Technology Standardization Committee.
As EID reports, Beijing does not expect the new legislation to “quickly advance the development of the [blockchain] industry” in China.
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