Domestically, should the blockchain industry standard be released? Li Ming: Misunderstanding, in fact, will publish the international standard for blockchain terminology

“The national standards for the blockchain reference architecture are being prepared and will be submitted for approval by the end of this year.”

On April 10, according to Xinhua Finance China Financial Information Network, at the "2019 China International Blockchain Technology and Application Conference", Li Ming, director of the blockchain research office of China Electronics Technology Standardization Research Institute, revealed that the country is expected to be at the end of the year. The release of the blockchain standardization definition will give a corresponding standard definition for the block, blockchain, and blockchain distributed accounting.

According to the public information, China Electronics Technology Standardization Research Institute was established in 1963. It is directly affiliated to the Ministry of Industry and Information Technology. It is also a basic, public welfare and comprehensive research institution engaged in the standardization of electronic information technology.

The official website of the China Electronics Standardization Institute shows that it has completed standardized research on cloud computing, virtual reality and augmented reality, smart city ICT, and IT governance.

The standards have different categories according to different classification angles, such as international standards, national standards, group standards, industry standards, local standards, and corporate standards.

As for the news that “the domestic standard of blockchain will be released at the end of the year”, the Odaily Planet Daily reported to Li Ming himself, and Li Ming responded that the definition of the standardization of the domestic blockchain at the end of the year mentioned in the report was misunderstood .

Li Ming disclosed to the Odaily Planet Daily exclusively:

International standards for blockchain and distributed technical terminology may be released at the end of this year, focusing on the basic concepts of blockchain.

At present, there is a project standard in the national standard, which is called the blockchain reference architecture. The standard will mainly refer to the basic functional components in the blockchain system, and define the functions and components of the blockchain system.

National standards are currently being prepared and will be approved at the end of this year.

Coincidentally, today, the deputy governor of the People's Bank of China, Fan Yifei, in his article published in the People's Daily also revealed that the People's Bank of China is studying and formulating standard codes such as blockchain:

The People's Bank of China is also actively studying and formulating standard norms such as big data, blockchain, and open banks to further guide the healthy and orderly development of financial technology.

What is the use of a unified blockchain industry standard? How will it affect the blockchain industry?

In the report of Xinhua Finance China Financial Information Network, Li Ming, director of the blockchain research office, elaborated on the standardization of the blockchain industry:

Blockchain standardization should be a basic and versatile standard, and data format requirements should be given to unify the blockchain industry needs.

Analyst Xiao Lei also gave his opinion:

The formulation of the blockchain standard is actually to better carry out technical docking and network interconnection, instead of setting a specific standard for the development of blockchain , so this standard is more from the perspective of security, transparency and interaction. Consider that there will be no more restrictions on specific development directions.

With the participation of major financial institutions and the continuous upgrading of more technologies, blockchain information services are also covering more and more industries. With the development, the benefits brought by the blockchain are also growing, and the development of standards and rules may also bring greater original benefits.

“At many emerging technologies, developed countries such as the United States are pioneers in setting standards, and thus have received huge initial returns. So in the blockchain sector, China also hopes to use higher standards and earlier markets. Maturity, to compete for the right to speak and pricing in the entire global blockchain industry ." Xiao Lei analyzed.

Before the emergence of the standard, the blockchain, like most of the early technologies, experienced a long period of barbaric growth, while the application of the blockchain continued to advance and gradually moved to the mainstream. Supervision also constantly explored and understood the blockchain industry.

Regarding the impact of the development of standards, Xiao Lei believes that it can be divided into short-term and long-term: "In the short-term due to the previous disorderly development, many blockchain information services may not meet the standard requirements, and face modifications or exits. In the long run, standard setting is a direction that is conducive to a larger scale, especially for heavyweight companies such as financial institutions, which will have an essential upswing in the market."

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