The Chinese central government has included a total of six blockchain projects on its latest list of trial internet security undertakings.
On 18 April the Ministry of Industry and Information Technology (MIIT) released the “MIIT Office Notice Concerning the Undertaking of Internet Security Technology Application Trial Demonstration Project Recommendation Work” (工业和信息化部办公厅关于开展网络安全技术应用试点示范项目推荐工作的通知), which provides a list of 101 projects as selected by means of expert of assessment.
The list contains a total of six blockchain projects including:
- Project no. 21 – a blockchain public service network for power “Internet +” operations;
- Project no. 30 – a blockchain driven electronic invoicing system;
- Project no. 64 – research and demonstration applications of a consortium blockchain base platform based on SM codes;
- Project no. 65 – a third party electronic data preservation platform based on consortium blockchains;
- Project no. 81 – a government affairs consortium blockchain information transmission platform;
- Project no. 82 – a security risk monitoring and control platform for the blockchain sector.
Liu Quan (刘权), head of MIIT’s CCID Internet Security Research Institute (工信部赛迪网络安全研究所) and the CCID Blockchain Research Institute (赛迪区块链研究院), said to National Business Daily that the six projects included on the list generally concern internet security protection and new technology application security.
According to Liu key application scenarios include power generation, electronic invoices, data preservation and government affairs, which have the goal of using blockchain technology to achieve secure information sharing between multiple parties, verifiable data as well as cost reductions in tandem with efficiency gains.
Liu stressed the use of domestically developed crypto-algorithms to recreate base-level blockchain frameworks, in order to increase both blockchain security and independent control capability.
With regard to China’s domestic blockchain sector, Liu said that market demand had not yet entered a phase of explosive growth while large-scale applications had yet to mature, given that the results of blockchain application cases still await further confirmation.
Liu expects the realisation of blockchain applications – and in particular consortium blockchain applications – to require multi-party coordination between enterprises and systems.