Chinese Central Bank Aids in Development of Two New Blockchain Standards

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The digital currency unit of the Chinese central bank has teamed up with a leading state-backed IT and telecommunications researcher to develop new standards for blockchain technology.

The People’s Bank of China (PBOC) Digital Currency Research Institute and the China Academy of Information and Communications Technology (CAICT) recently cooperated in the development of two new assessment standards to deal with problems in relation to blockchain platforms.

The two blockchain assessment standards are the:

  1. Function assessment methods for distributed ledger technology (DLT) platforms.
  2. Performance assessment methods for distributed ledger technology (DLT) platforms.”

The new standards were developed by PBOC and CAICT in their role as participants in the ITU-T Study Group 16 – a statutory group of the ITU Telecommunication Standardization Sector.

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