Tencent, Baidu and PBoC executives join China’s new blockchain committee

The Central Government of the People’s Republic of China has officially announced the members of its newly formed National Blockchain Committee, which will be responsible for setting standards for the burgeoning blockchain industry and will be led by some of the country’s most notable leaders.

According to an official announcement from the Chinese Ministry of Industry and Information Technology (MIIT), the committee currently has 71 members. The governing body, called the Technical Committee for the Standardization of Blockchain Technology and the Distributed Accounting Book, was formed after receiving approval of the National Committee for Standardization Management.

The 71 members of the committee are expected to be equally involved in creating and setting standards for the blockchain industry, but they will have separate management. The ministry said the committee was headed by Chen Zhaoxiong, MIIT’s deputy minister. In addition to a president, there will be 5 vice presidents, all elected from various high-level government posts. One of the vice-presidents, the ministry said in the announcement, will be an official at the People’s Bank of China’s Currency Research Institute (PBoC).

At least a dozen members of the committee are employees or deans of some of the largest Chinese universities, including Tsinghua University, Fudan University and Beijing University of Post and Telecommunications.

However, the most notable members come from the country’s technology giantsA step that points to the formation of a uniform front of the public and private sectors in dealing with blockchain technology.

In particular, Li Maocai, Tencent’s CEO for blockchain technology, and Xiao Wei, director of Baidu’s blockchain labs, are members of the committee. Huawei’s blockchain project manager, Zhang Xiaojun, is also a member.

Although long, the list of members is not exhaustive. MIIT asked the public to rate members and give their opinion on the choice of ministry. People You have until May 12 to send your comments by email.

The start of a National Blockchain Committee follows the recent proposal by Chinese President Xi Jinping, who called on the country to use blockchain technology to combat the current coronavirus pandemic. It is estimated that Around 20 blockchain-based applications have been developed to solve various virus-related problems.

Since Xi stressed the development of blockchain technology last October and called for more research, investment and regulation, China’s blockchain news has continued to come as the country wants to take the lead in the race. implement various blockchain initiatives.

Beijing has been a leader in cryptocurrency innovation this year as it announced plans to launch a blockchain pilot billing platform similar to that launched in Shenzhen last year.

With the release of a detailed blockchain technology standard by the People’s Bank of China (PBoC) earlier this year, the country has laid a solid foundation to become a leader in distributed general ledger technology.

Translated version of Priyeshu Garg’s article published on 8BTC.