Chinese Government Invites Feedback on Data Security Standard for Blockchain!

Chinese Government Invites Feedback on Data Security Standard for Blockchain!

Blockchain
April 11, 2020 Komal Joshi
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China’s Ministry of Industry and Information Technology has invited feedback on draft guidance for standardizing data security in blockchain and other rising technologies. In a document issued on April 10, the ministry claimed that data had become a “national basic strategic resource” and an innovative component in social production.  While the growth of big data
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China’s Ministry of Industry and Information Technology has invited feedback on draft guidance for standardizing data security in blockchain and other rising technologies.

In a document issued on April 10, the ministry claimed that data had become a “national basic strategic resource” and an innovative component in social production. 

While the growth of big data and stimulating the expansion of China’s telecoms and internet sectors is a benefit for the country’s digital economy, developers and government must recognize the supreme importance of tackling emerging, complicated, and critical security risks and difficulties included.

The ministry, therefore, invites for ramping up the production of standardized data security assurance systems, requesting feedback on its draft direction for achieving “a rational and orderly flow of network data” in the digital economy. 

Ministry’s critical areas of focus show a keen interest in blockchain 

The document puts a strong emphasis on the significance of developing safety standards in next-generation technologies like blockchain, cloud computing, 5G, and AI. 

For blockchain, the ministry recognizes three crucial dimensions for safety development: system design, application services, and essential components like network communication and cryptography.

Standardization for the blockchain sector would concentrate on data privacy, reliable digital asset storage, and preserving network interactions. The ministry involves five items concentrated on blockchain in its draft standardization guide, which include security in the architecture of Internet of Things (IoT) data communication based on the blockchain, investigation on smart contracts and blockchain security in financial transactions, and an investigation of data exchange technology for IoT utilizing blockchain.

The ministry’s proactive approach to the industry

China’s Ministry of Industry and Information Technology has performed an essential role in proposals for the advancement of standards for the blockchain industry. 

Domestic blockchain standardization work started as early as 2016. The China Blockchain Technology and Industry Development Forum — whose secretary-general, Zhou Ping, works for the ministry — had issued ten international blockchain standards by spring 2018.

Under the ministry’s direction, the Center for Information and Industry Development has also been issuing monthly digital currency rating reports since mid-2018.

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