China’s Office of the Central Cyber Security and Information Committee of the country’s Ministry of Industry and Information Technology (MIIT) has identified four essential application areas for blockchain adoption.
What was the five-point agenda of MIIT for adoption of Blockchain? document Issued on Monday detailing the guidelines for accelerating promotion of emerging technologies for industrial development.
As previously reported by Cointelegraph, Chinese President Xi Jinping previously stated rapid blockchain adoption Back in October 2019.
Presenting its rationale for blockchain adoption, the MIIT document described the novel technology as “an important part of the new generation of information technology”. According to the IT Ministry, blockchain is one of the new innovations such as big data and artificial intelligence that are critical to China’s continued progress.
The MIIT document lists economy, finance, industrialization and public services as the main focus for blockchain development in the country.
According to the MIIT publication, traceability, data sharing and supply chain management are some of the use cases of blockchain that can have a significant positive impact on the real economy.
In the field of finance, the MIIT publication called for fostering a greater intersection between blockchain and other emerging technologies such as cloud computing, AI and the Internet.
MIIT’s proposal to adopt blockchain for public utilities also includes concepts such as smart cities and the use of new technology in government services. The document relies heavily on the immutability of blockchain-based ledgers in improving evidence collection mechanisms in areas such as judicial deposits, civil registries and administrative law enforcement activities.
As part of its development goals, MIIT called for the establishment of at least three backbone enterprises and blockchain industrial clusters. The document also paid particular attention to “international cooperation under the auspices of”belt and road“Initiation.
The MIIT document, relying heavily on blockchain adoption, makes no mention of crypto or tokens in general. Beijing Is Reportedly Continuing Its Cryptocurrency Crackdown With Weibo restrictions on accounts Some “virtual currency influencers.”