China releases roadmap for blockchain development

China’s Central Cyberspace Affairs Commission and the Ministry of Industry and Information Technology (MIIT) have listed four essential application areas for blockchain adoption.

The ministry’s five-point agenda is a part of the document issued on Monday with detailed guiding opinions for accelerating the promotion of emerging technology for industrial development.

China has been one of the more ‘vocal’ proponents of blockchain adoption and has been making strides in it way back from 2019.

The MIIT document describes the novel technology as “an important part of the new generation of information technology.” According to the ministry, blockchain is in tune with the flurry of innovations like big data and artificial intelligence critical to the Chinese Republic’s continued progress.

The document also lists economy, finance, industrialization and public services as the main focus for blockchain development in the country. The publication also finds traceability, data sharing, and supply chain management as some of the use cases where blockchain can significantly positively impact the real economy.

The MIIT’s proposal for blockchain adoption for public utilities also includes concepts like smart cities and the utilization of novel tech in government services. The document leans highly on the immutability of blockchain-based ledgers in improving evidence collection mechanisms in areas like judicial deposit, civil registries and administrative law enforcement activities.

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