China’s IT Ministry Convenes Meeting to Spur Blockchain Development

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The Ministry of Industry and Information Technology (MIIT) has convened meeting to further drive the “health and orderly” development of blockchain technologies in China.

Yicai reports that MIIT’s Informatisation and Software Services Department (信息化和软件服务业司) convened a blockchain work meeting at the start of August  for the purposes of “discussing regional blockchain developments, analysing the circumstances and challenges faced by blockchain development, and researching and exploring the subsequent work stage.”

The Department said that it would continue to strengthen interactions with local administrative departments in order to :jointly create an excellent development environment,” as well as “actively advance healthy and orderly blockchain development.”

While China launched a crackdown on cryptocurrencies almost a year ago with a ban on initial coin offerings (ICO) in September, the government nonetheless remains upbeat about the potential benefits of blockchain technologies.

Since December 2016, when the State Council and MIIT jointly issued the “13th Five Year State Informatisation Plan” (“十三五”国家信息化规划) the Chinese government has issued over 20 state-level directives that either stress or seek to expedite the development or application of blockchain technologies.

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