China’s IT Ministry Proposes Blockchain Focused Lab
China’s Ministry of Industry and Information Technology (MIIT) has proposed a blockchain-dedicated laboratory on the list of important labs for 2018. The ministry’s post indicates that the primary objective of the lab will be to fasten blockchain for the IT and data security industry.
Furthermore, the lab will be administered by the National Industry Information Security Development Research Center.
In the beginning of August, MIIT had recommended a number of methods to expedite blockchain adoption. On its part, the organization stated that it would increase interaction with several zones and departments, and also create a powerful industrial ecosystem to facilitate gradual expansion of blockchain across multiple sectors.
Earlier in July, MIIT’s deputy director asked the country to join hands to promote blockchain as the main technology on an “industrial scale.”
While explaining blockchain’s power to avoid “information tampering and forgery,” the minister stressed security. Furthermore, the minister stated that the potential of blockchain technology should be understood “from a strategic perspective.”
China continues to take all measures to curb activities related to cryptocurrency trading and mining, while encouraging blockchain technology at the highest levels of its administrative structure. Earlier this spring, the country’s Premier Xi Jin ping admired blockchain as one of the “new generation” technologies providing “breakthroughs.”