China Will Upgrade its Blockchain by 2025

China’s Ministry of Industry and Information Technology, focused on policing the fintech industry in the Asian nation, stated that it aims to boost the standards for its blockchain technology development by the year 2025.

The draft of guidelines published on the ministry’s website highlights the importance of public opinion on blockchain development from “all walks of life”. China intends to clarify the level of envisioned design for its blockchain and national distributed ledger technology standards sometime during 2023, with the public having the opportunity to provide input until April 28th.

China has a 5-year plan by the name of “National Economic and Social Development and Vision 2035 of the People’s Republic of China”, and the blockchain-focused initiative feeds into this plan as it aims to leverage the nation’s technology and quality of many technology-intensive and industries such as core electronics and digital software.

Sources:

https://cointelegraph.com/news/china-to-upgrade-national-blockchain-standards-by-2025

https://www.miit.gov.cn/gzcy/yjzj/art/2023/art_e0217500160748019de8590225400065.html

https://www.fujian.gov.cn/english/news/202108/t20210809_5665713.htm