Observation | A picture to understand the Ministry of Industry and Information Technology's blockchain standard commission


The Ministry of Industry and Information Technology announced the list of members of the first National Blockchain and Distributed Accounting Technology Standardization Technical Committee, and many listed company personnel were listed.


The construction of technical standards has accelerated, and industrial applications are expected to explode. On November 20, 2019, the National Standardization Management Committee announced that a number of national professional standardization technical committees will be established. According to the Ministry of Industry and Information Technology, according to the National Standards Committee's reply, the relevant units proposed the National Blockchain Standards Committee member formation plan, the Ministry of Industry and Information Technology announced the first list of members. Earlier, in February, the People's Bank of China issued the "Financial Distributed Ledger Technical Security Specification" financial industry standard. We believe that the competition for the construction of blockchain technology standards by ministries and commissions is the advancement of the announcement of the early Standards Committee and the implementation of the “10.24” Politburo collective learning of the blockchain conference spirit.

Cooperation in industry, education, research, politics, and enterprises, the blockchain landing scene or full bloom. A total of 71 members of the Blockchain Standards Committee of the Ministry of Industry and Information Technology announced this time, 1/2 came from ministries and commissions (Ministry of Industry and Information Technology, People's Bank, courts, etc.), universities and public hospitals and other institutions representing public interests, and 1/2 came from BATJ, blockchain Entrepreneurship companies and other listed companies and other institutions, involving professional fields including finance, technology, medical care, legal affairs and so on. We believe that, unlike the market's belief that blockchain can only be implemented in financial scenarios, with the promotion of the aforementioned members, the implementation of blockchain in our country has been fully rolled out, especially the "Finance, People's Livelihood, Government affairs "and other fields.

Implement the collective learning spirit of blockchain. In the collective study of the "10.24" Politburo, General Secretary Xi Jinping put forward higher requirements on the development of China's blockchain: 1. In terms of international competition, we must strive to make China at the forefront of theory in the emerging field of blockchain, Occupy the commanding heights of innovation and obtain new advantages in the industry; enhance the right of international discourse and rule-making; 2. In terms of domestic social governance, the blockchain should be used to promote data sharing, optimize business processes, reduce operating costs, improve collaboration efficiency, and build credibility The role of the system and other aspects, for example, to promote supply-side structural reforms and achieve effective integration of supply and demand in various industries; to accelerate the continuous conversion of new and old kinetic energy and promote high-quality economic development. General Secretary Xi Jinping also mentioned some specific scenarios. For example, in the financial scenario, it solves the problems of SME loan financing, bank risk control, and department supervision. In the livelihood service scenario, it provides people with smarter, more convenient, and more High-quality public services; improve the level of intelligence and precision of city management; ensure the orderly and efficient flow of production elements within the blockchain; in the government affairs scenario, realize the joint maintenance and utilization of government data across departments and regions. We suggest that for the list announced by the Ministry of Industry and Information Technology, we should also focus on the aforementioned scenarios.

Core recommended targets: Among the targets involved in the list of members of the first Blockchain Standards Committee of the Ministry of Industry and Information Technology, we mainly recommend targets that focus on the following scenarios: 1) Financial scenarios: Ruyi shares; 2) Government affairs scenarios: Rujiu software; 3 ) Copyright, legal affairs and other scenes: such as Anne shares.

Risk warning: The development of blockchain technology is not as expected; the business model of blockchain is not as expected.