Hu Gang, China Internet Association: "Cryptography Law" can provide more cryptographic support for blockchain applications

According to Guangming.com, China's first "Cryptography Law" was reviewed and approved and will be implemented on January 1, 2020. Hu Gang, deputy secretary general of the Rule of Law Working Committee of the China Internet Association, said that when blockchain is used in daily life such as economy, people's livelihood and consumption, its supporting passwords are mostly commercial passwords. The "Cryptography Law" promotes the openness of commercial passwords to provide more password support for blockchain applications. One of the major breakthroughs in the "Cryptography Law" is the cancellation of the administrative license for commercial passwords, the release of access to the business secrets market, and the introduction of a rule of law model that promotes guidance, standard traction, and special regulation.