Tencent, Huawei, and Baidu Executives to Join China’s New National Blockchain Committee to Set Industrial Standards
The Chinese central government has put together a national blockchain committee to work on setting industrial standards. The Ministry of Industry and Information Technology (MIIT) issued a notice on April 13 of the “Public Notice on the Formation of a National Blockchain and Distributed Ledger Technology Standardization Technical Committee.”
The committee would be made up of 71 individuals from different backgrounds, including political, industrial, academic, and research organizations. The committee will be chaired by MIIT deputy minister Chen Zhaoxiong, along with five vice-chairs, all of whom are government staff, including Di Gang, the vice-head of the Chinese central bank digital currency institute.
Other committee members include executives from well-known Chinese institutions, including Baidu, Tencent, Huawei, Peking University, Tsinghua University, Fudan University, amongst others. The ministry is also asking for public feedback on the committee members until the deadline of May 12, 2020.
China’s take on blockchain
Chinese President Xi Jinping announced in October 2019 that its nation should accelerate the development of blockchain technology. He highlighted that the application of blockchain technology has extended to digital finance, the internet of things, supply chain, and digital asset trading, amongst other areas. The president stressed that it is necessary to strengthen fundamental research of blockchain technology to enhance original innovation ability, for the nation to take a leading position in the blockchain industry.
Heiko Closhen, Entrepreneur